XBox ONE Vs. PS4

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 Is this the end of buying a actual game disc?

I think I'll stick with what Family CK are happy with, ie no upgrades.

I have been following them both since I collect the consoles, and have since the Atari 7800.
Anyway, there have been some changes by both companies, more by Microsoft then Sony to keep it's following after announcing both.

Here is what I know

PS4 $399
Xbox One $499

Backward compatible Yes & No
Both will be able to play older games via a download/purchase of each.
For Example you will be able to buy PS3,PS2,PS1,PSP & Vita games on demand.
You will not be able to use existing "Old Gen" discs on either.

Both will have built in Optical discs so you can still purchase games at your local store.

Originally Microsoft said the XBox would not play used/old games but have since changed that since fans had a huge hissy fit about it.

The PS4 is 10 times more powerful than the PS3
Xbox One is 3.5 time more powerful than the Xbox360

Forza 5 will be out in the fall for Xbox One
Gran Turismo 6 will be out in the fall for the PS3, yes the PS3.
I've watched live footage from both of these games and GT kicks Forza's tail on an older system, so Sony get's my vote for racing winner.