TBH, I am looking forward to the X1 as it feels like it could be a truly new experience. Putting every player at the same level with internet access and Kinect functionality makes me excited about the possibilities of future games. But maybe it turns out to suck, maybe it doesn't work out, I don't know... but I fear the PS4 is just a small iterative leap from the PS3. I like my PS3, but I don't enjoy the whole ecosystem as much as I do the 360. The 360 opened a lot of doors and innovation in the console space that competitors slowly followed. I think the X1 has the potential to really do that again and feel truly 'next-gen'.
I'm not happy about the DRM stuff, I like Sony's stance better but really... I'm used to Steam so I don't care about the online checks that much. I rarely trade or sell my games: I collect them, so I'm not exactly worried about the used game market. The only real thing I'm concerned about is in 10-15 years, will my X1 games still work? I still have a PS1, 3DO, N64, NES etc etc and I can play all the games still, but I admit I don't often but its still nice to know I can. I really just want MS to come out and say that that isn't something we need to worry about - that we'll be able to play the games forever. Then, I'll have nearly no regrets with getting the X1.