The game will offer a performance mode that runs at 4k/60fps.

Prob with some other effects turned off i gues?

Really good news!

https://www.gematsu.com/2020/07/marvels-spider-man-miles-morales-has-a-4k-resolution-60-frames-per-second-performance-mode

4k 60fps should not be the performance mode IMO. It should be the default OOB option. I mean judging by the teaser it's not a massive jump in quality. Still, it's an early title.

Interesting, I was hoping it would be 4k 60fps without needing any visual downgrades but I do love dem 60fps

Ray traycing is expensive.

My guess is that 60fps will require turning off ray-tracing, and maybe one or two other graphical effects.

I'm going to have to upgrade my TV to a 4K sometime soon lol

RT on consoles is going to be weak anyway, been technically evaluated already.

That is true.... but still, I would much rather see what they could do with backed lights @4k 60fps as an early-gen (possible release) title.

That might be what we're getting to be honest. The logical thing would be for them to drop the resolution down to 1440p as opposed to inidvidually tweaking graphic settings, so I imagine the reason its still 4k is because there is something really GPU intensive they're just going to turn off. 

What kind of graphics settings are you expecting from these consoles for 4K60 to be standard across every game?