For interface, yes met my expectations.
PS4's interface is fast and slick, the console boots up fast, installs are fast and you don't have to wait for them, downloads are fast and seamless, online store is fast. I can take screenshots at the touch of a button, Playstation live is fun to browse for a couple minutes before turning the console off, just to see what idiots are on and what new games are out. (Flying around in War thunder looks great)
I still game as much on ps3 (drought as expected) and the experience is night and day. Sure my 340GB ps3 is almost full, likely also contributing to how slow it has become.
For games, hit and miss so far.
Finally native 1080p on console, everything simply looks a lot better without upscaling. KZ SF and Infamous SS also met my graphical expectations. Plus the sound design in KZ SF really feels next gen.
However, gameplay wise, game length wise, that's not there yet. Infamous SS is tons of fun, yet short. KZ SF gorgeous but just the same old. Anyway playing Child of light, NFS: Rivals, AC4 and Tombraider in 1080p without the hassle of upgrading and moving my pc was great.
My next purchase will be Mario kart 8. The WiiU is slow, it's wifi reception sucks, but the games are fun. Playing Rayman legends, Mario 2D/3D with the whole family is great. Zelda windwaker in HD simply stunning. I hope a new Zelda and Paper Mario will be announced at E3.