I think it makes more sense to wait. When a new console comes out, games developers have had years to master the old console and know how to squeeze every drop of potential out of it. But they don’t know how to fully exploit the new hardware. So, at first it is hard to really notice a difference between first-gen games for the new platform and what the previous generation is capable of. Also, when the new-generation comes out you have lots of great games for the old platform that are available at budget price.

Also, I have not yet seen any game that looked so good it would be worth forking out hundreds for a console to play it on, whereas the PS4 has lots of great games I have yet to play. So I might as well stick with what I have for the time being.