How is that different from some current console games running at 60 fps (Forza Motorsport 4) or COD games? Also, modern GPUs from Nvidia already have Adaptive Vsync which doesn't drop the framerates in half like traditional Vsync does (i.e., in the past if you fell below 60 fps, the frames would drop to 30 and lock). AMD is also working on a newer driver to incorporate double vsync feature. By the time these next generation consoles launch, there could be an adaptive vsync solution in place.

Traditional Vsync:

Adaptive Vsync technology disables Vsync when the frame rate drops below 60 fps level so the game can smoothly transition to 58, 57, 45, etc. frames without stuttering, and without dropping all the way to 30 Hz.

I think the main point regarding 1080P @ 60 fps is a general assessment of how powerful the hardware is supposed to be. It doesn't mean that each game will run at 60 fps from the time PS4 launches to 2020. The problem is based on these specs, no way can they even get 1080P @ 60 fps in modern games coming out in 2014-2015. 

I didn't mean to insinuate that PS4 will only a bit more powerful than the Wii U because we don't know the final specs of either console. The comparisons to Wii U I made are only based on rough specifications we have of Wii U's GPU vs. A10-5800K APU. If PS4 has an APU + dedicated GPU, of course it's an entirely different comparison. Personally, I agree with you that there will be a separate GPU and an APU. AMD allows for hybrid cross-fire with its Trinity APU. However, if the console only has an APU and no dedicated GPU, it will be a massive flop graphically. 

Sony's large investment in the Cell didn't pay off since the console was penalized by the slower RSX Nvidia GPU. By focusing on the graphics sub-system rather than trying to fit a $200 CPU into the console with a $100 GPU, they can make a better balanced console as opposed to PS3 that had a significantly more powerful CPU over Xbox360 but a much slower GPU, in the end hardly allowing PS3 to stretch its legs (and actually making it too expensive for most developers to optimize and extract all that power from the Cell).

Off the shelf PC components would work right away without any need to optimize as the dual-graphics hybrid option has already been proven and tested on the PC space. That means the developers would be able to immediately start harnessing that power without needing 3-4 years to learn the ins and outs of the CPU and GPU design. A good budget choice for dual graphics would involve pairing an A10-5700/5800 with a Radeon HD6570 or 6670 (remember the HD7660D is just an HD6000 series). You would get a decent increase in performance without a severe power consumption penalty, making it a cost effective option for a console. If Sony goes the APU route, they get a "free" GPU. The APU+low-end dedicated GPU would maximize the investment into the APU over say a full-blown Bulldozer/Piledriver desktop CPU by shifting the priorities onto graphics as opposed to a powerful CPU. 

A10-5800K + HD6570 = AMD Dual Graphics (Will Obris follow this path?)

I agree, VITA has top specs for a mobile, because of this, I'm sure that both PS4 and 720 will come with TOP specs for a home console.

I believe that both consoles will bring a contract model, so you pay something like $200-$300 and sign 2-3 years of PS+ X-LIVE with monthly fee. Or pay something like $499 off contract.

No rumors of any gimmick so far.

If they're specifically calling it a 256GB drive, then I have no doubt it's Solid State.

I think the specs will be great, but can Sony really afford to launch a new console within a year? And if they can't, and decide for a holiday 2014 release, they'll be the last one to the market... and probably the most expensive, again. I worry for the future of Playstation beyond this gen.

Sony are trying to take the wind out of the WiiU's sails some, I guess.

Thanks for clearing that up, but does that mean I've been playing Battlefield 3 and Bad Company 2 at 24fps?!! It plays awfully smooth for 24fps. Some PC players think 60fps is inadequate! 

I suppose so. It would be nice to be surprised in a conference from time to time though. Nintendo doesn't let much leak out. 

Nice summary but the graphs show the inherent problem: you are way short of 60Hz, even with lower quality settings. Even assuming absolutely direct driver access in the PS4 for the quasi XFire layout, I don't see it reach 1080P/60Hz, Though the ram layout (translation: use expensive GDDR5) plays an unknown factor here, too. In the end, the law "Separate CPU (with its own ram) and separate GPU (with its own ram) wins" cannot be tricked, APUs are an excellent idea for handheld/laptop gamers, but a very bad idea for things that want to compete with PC gamers.

PS4's slogan will be "why get a PS4 when a Vita is cheaper?"

As long as it isn't $599USD it's sounding alright.