My sources say that the Ps4 and Xbox One will not play games at launch. The Consoles might turn on but they usually over heat after 3 minutes of using the OS. Everything they have shown so far is actually faked CGI done by Michael Bay. Titan Fall isnt even a real game and is actually just props thrown together from Transformers and the cancelled Teenage Mutant Ninja turtles movie.
All of the tours and hands on events are running on super computers that use 60gb GDDR5 ram and that is the only thing that will run the actual OS of both systems. Also rumors state the Consoles will not support Blu-ray discs at launch but it might be patched within 6 months.