Meh, my rig is already better anyway. I'm unimpressed.
It's good as it will make PC/Console porting one way or the other easier, but still underpowered really.
Of course the console fanboys will say it's better, they're still going on about how much better the PS3 and Xbox 360 are than PC.
I'll probably get a PS4 or whatever it'll be called, if only for exclusives, Uncharted 4 or whatever. I won't be getting one at launch though, I'll wait until the price comes down and a few exclusives I want to play are out. If nothing of interest shows up, I may even skip this console generation.
No point to getting an Xbox 720 though as I'll be able to play 99% of the releases for it on PC better, and I could care less about motion control or any exclusives related to it. Live games usually end up on Steam fairly quickly if they're any good, so that's not a selling point for me either.
Nintendo lost me a while ago, I can do without a glorified Wii/DS hybrid, and I don't care much for the 3ds screen. I've got passive 3d for my PC and it just doesn't match up.
At any rate, the next cycle will go as every cycle before it. PC gamers will already have better tech, the fanboys will be butthurt about it and claim their favored console is superior to all and will go on about how much cheaper and easier to use their consoles are, as if that makes the games run better somehow. Normal people won't care and will play what they feel like playing for whatever they decide to buy.
Whatever the specs are for the new consoles, it still won't run Crysis 3, Tomb Raider, Skyrim [especially modded Skyrim] or Max Payne 3, just to name a few titles, as well as my PC does now, so I've no real interest in the console launches. They'll still be there in a year or two when enough exclusives that interest me are released and we see a price drop. Maybe I'll care a little bit then, but I doubt I'll be doing the vast majority of my future gaming on a console anyway.
Most likely I'll end up getting a PS4 and sticking to just the one console this cycle. I've still got one of those huge launch PS3s that have the PS1 and PS2 hardware in it and it's running like a dream. Though, I admit I only use it as a Blu-Ray player for the most part. Works great for playing 3D Blu-ray disks. I played Uncharted 3 recently, but that's pretty much the only console game I've played in about two years. My Wii hasn't been hooked up in about three years and my 360 is merely used as a way to tell when my room needs dusting. The PS3 wouldn't even be hooked up at all if it weren't for the Blu-Ray drive and Blu-Ray 3D capability. There's a good chance I'll skip getting a console at all unless several awesome 'OMG I can't miss them' exclusives pop up.
The cycle will continue as it always has, people will whine, war will be waged over the favored console across the vast interwebs, no one console will ever win, the trolls shall feed, and most people won't care.
It is as it should be.