PS4 will win (all regions), but the margins (especially in US, not so much at all in Japan) will be smaller. Despite the Titanfall bundle not doing much for X1, I think the price cut will make it competitive in the states once again, because people don't care about perceived "value" that the companies say their product has. They didn't care about PS3's value (Blu Ray player, backwards compatibility at launch, all types of inputs, etc), because the price tag was too high. Same with X1 and Kinect. Now that that difference has been eliminated, I see the X1 getting a resurgence in the US because of how strong the brand was the last gen and for the simple fact that now price won't sway people's wallets towards PS4.
BTW, I am a PS4 owner and even though I am not brand loyal, I've owned every mainline PS console (and PSP but not Vita, yet). I still think X1 has a chance in the US now, because price does matter to the average consumer who doesn't go on video game internet forums.
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