@2Chalupas: in a console perspective the hardware to blow the ps4/xb1 out of the water is not currently available. On the AMD side the only gpu that is more capable than the ps4's pitcarin that would fit into the power requirements of a console would be a tonga chip(r9 380x). And that chip is basically the same bump in performance as ps4 is above xb1. On the Nvidia side the gtx 970 and 980 would fit the power envelope of a console, but those cards are $300 and $500. But in terms of performance the 970 is just marginally better than a tonga chip from AMD. I wouldn't even consider the difference between ps4's pitcarin to a 980ti/titan x to be big enough to justify a new gen. The tech just simply isnt there. Later this year with pascal chips from Nvidia and artic islands chips from AMD, we might have a pretty good leap in a chip that could be in a console to make the ps4 and xb1 be outclassed, but then I dont see it.
On the cpu side of things, it would be really easy to outdue the 8core jaguars. A Skylake i3 6100t @ 3.2Ghz murders the jaguars and it only draws 35watts. Its only a dual core with hyperthreading. But that would be a good part to pair with either a 970 or 980 right now in a console.
Nintendo will most likely go with AMD because thats what all the rumors dictate. If it does launch in 2016, I dont see any artic islands chip being a possibility, unless Nintendo wants something more powerful than a tonga chip that would fit into their tdp. And in that scenario, nintendo would have to be important enough to AMD to allocate millions of their brand new artic island chips to nintendo. Cpu-wise, they might go with ibm again and cripple the chances of getting mny multiplats, or they may go with Arm to make cross compatibility with their new handheld easy...or that may be part of the package. If they do go x86/x64 like the ps4/xb1, then itll probably be puma cores which are the new low power cores that replaced jaguar cores. Which are only marginally better than jaguar.
My bet is 8 puma cores in an apu with a tonga chip. This will outperform the ps4 but not by much. And it wouldnt justify a new gen from sony until 2020. Then nintendo could release a successor to the NX in 2021. That would give the NX 5 years. Every Nintendo console has only had a 5 year gen except wii which was 6 and a 2016 release of NX would give the wii u 4 years. All this isnt out of the norm. I dont see ps4's numbers stalling because of the nx. But when/if the nx surpasses the xb1 and if sales of the xb1 stall, we will probably see microsoft jump the gun and release theirs in 2019.
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