Honestly i think it is overrated and this coming form a Nintendo game who has had it for years.

Wii U was help back because of it. Using outdated tech when they should have moved with the times to x86 architecture like the competition. Not saying it had to be as powerful but would have made porting that little bit easier.

I would say backwards compatibility is only really worth it if it makes the old generation games look better than they did. For example, when I play PS2 games on my PS3, the upscaling and lossless HDMI output cleans up those games so well that even a PS2 via component cable doesn't compare. The added bonus of less shelf space is a plus as well. That to me is when backwards compatibility is truly a great feature. Even the PS2 cleaned up PS1 games rather nicely because of the emulated graphics chip allowing for additiona filtering. Sadly Sony(and Nintendo with Wii backwards compatibility with the Wii U) did not really promote the graphical benefits of plays older games on those consoles, so many people did not care.

Its a cool feature to have, but not necessary. I like that my Wii, WiiU, and PS3 have it, but I'm not bummed out that my PS4 doesn't.

98% of the time I'm playing games for the current console.

Nope. The PS4 will still have more games when this launches.  Even without PSNow.  

Can't speak for everyone but it was and STILL IS a huge deal for me. That was the first reason why I bought a N3DS instead of buying a OG Nintendo DS on ebay, and why I bought a PSP on Ebay and not a PS Vita at a store.

I skipped out on most 7th Generation games (many because my addiction to WoW and CoD). So playing many of the older titles that I didn't play over the years was a huge plus for me. I was EXTREMELY disappointed when the Vita had no BC (there was games I wanted that couldn't be D/Led on PSN that I was dying to play... Life Valkyria Chronicles 3 and Mega Man Powered Up). That and I rather own a physical copy of a game anyway.

If the PS4 had PS3 BC... I would have sold my PS3 ages ago to purchase a PS4. If you ask me, I feel Microsoft and Sony didn't offer it initially because they known Devs were still making a fair amount of games for both, and they both felt they can still make some money off their old stock of 7th gen consoles. Now that ownership of both consoles are increasing and decreasing on their 7th generation consoles (plus Devs not making much games for them anymore) it then when Microsoft decides to make X1 BC. Odd coincidence... o.O

The thing that sets Xbox One BC apart, in my opinion is that the games actually work online. As long as a game has an online community, it will remain relevant. I use BC in all forms, when I can but playing a game like CoD4 with an improved controller might make a difference.

It's overrated as a feature with regards to sales appeal.

But you won't hear that on gaming boards, because the type of people on gaming boards tend to be by their nature hardcore gamers who get riled up by things like this.

To be honest I think I've spent maybe 20 minutes playing Wii games on my Wii U in almost three years. I'd rather Nintendo had used a completely new and more modern architecture than being shoe horned into the Wii U design, largely because of backwards compatibility that didn't help them at all in the marketplace anyway. 

remove the eShop thing and buy the Wii disc version then it is backwards compatibility.  And yes, Xenoblade Chronicles is an amazing game. :)

I like having backwards compatibility, but I can easily live without it! Besides, I still have all my 7th gen consoles so it doesn't mean too much for me this gen.

It's a nice feature to have. It would be even nicer if it works as they say. But, I don't see people buying it for that sole purpose, especially if they have a 360 that plays ALL the games without caveats. It's pretty much gonna be Halo 5 that's going to have to do the heavy lifting for Xbox One this holiday.