IMO without any long paragraphs:

Looks: PS4 wins, thing looks so good.

Processor: XBOne Wins
XBOne has a 1.75 ghz 8 Core Processor (The original was to be 1.6 but they changed it to 1.75 last minute

PS4 has the 1.6 ghz 8 core Processor.

Graphics: PS4 Wins
XBOne has a 1.31 teraflop GPU which is AMD Radeon based

PS4 has a 1.84 teraflop GPU which is AMD Radeon Based

Ram: PS4 Wins
XBOne has 8gb of DDR3 ram.

PS4 has 8gb of GDDR5 ram.

Price: Both Wins
XBOne without Kinect starts at 399

PS4 starts at 399, (Not sure if the price went to 459 everywhere)

For the extra 100 dollars I recommend getting the Kinect version of the XBOne if you are into party and casual games.

Controller: All Depends on Personal Preference

In my opinion i feel that the XBOne controller feels very comfortable and a bit more comfy than the PS4 but I know people who would argue against that so like started above it depends on personal preference.

Games:
I feel that atm that XBOne has better games at the moment but its only a matter of time before PS4 comes out with way better games, PS4 process is quality over quantity and I feel that Microsoft is Quantity over Quality.