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I found something that clear up all my questions.After this, you should be all set. http://www.youtube.com/watch?v=_Gerfj5E3ds
Neither machine is backwards compatible. The xbox one will be the centerpiece for your family room, whereas the PS4 is just for gaming and it shows in its capabilities. Both consoles will be overwhelmed by upcoming pc's and incoming consoles from the likes of Steam. The 360 and xbox one owners will not at this time be able to communicate with each other. Big mistake on Microsofts part.
There is absolutely no such thing as plug and play no worries.
My PS3 died, I had an xbox that no longer read dvd. There is absolutely no such thing as plug and play no worries. I will not be buying into the must have consoles in the first months, that is just dumb dumb dumb. When both companies are seeking more revenue, and the hardware goes on sale in February what have I lost? Nothing, because I can then filter through the quagmire of hyperbole and either buy a PS4, xbox, steam, or build my own gaming HTPC. I still have a very workable 360. Plus, there are no must have games coming in that time period. Both of these new consoles require a patch. Which means to me that they were pushed out the door as fast as possible. Coincidence that Sony and MS came out with consoles at the same time, hell no. They know what is coming up, and they panicked. Get your PS4 and rave, buy your xbox and control it the way you want.