I just recently realized an analogy that might work for the cloud computing to some point. GTA V is very impressive for a current gen game, considering how old the hardware is. Now, the question is, how did they do that? By reading from both the HDD and the disc at the same time. Sure, reading from a disc/HDD is not exactly comparable to reading from cloud at this time cos of 1) not everyone will be connected to the internet 2) bandwidths still vary where someone has 100mbit connection, someone else has 1mbit connection.
But just felt like pointing this out to what kind of potential we could be talking about. Yes, latency will also be a question whereas it really isnt when reading from HDD/disc, but there was that one video that showed that for example lighting didn't start looking weird until the 400ms latency mark when sorta "reading it from the cloud". And 400ms is very generous, seeing that any somewhat civilized place shouldnt have trouble reaching sub-200ms for anything. But then there is the question if a game developed with "cloud computing" in mind can be played offline at all. Or if it can, it at least will downscale Graphics, which IMO is a fair trade off at that point.
But really good write up TachyonicCargo, I enjoyed the fairly neutral-feeling approach of yours, even if I'm sure someone can poke holes into that too, but it didn't feel like something written by a diehard MS/Xbox fan blindly praising their own favourite
That said, I'm sure many Xbox players would want some PS exclusives over to Xbox too, but personally I'm not really interested in any of the PS exclusives, while Xbox exclusives make me go drool, but I realize this is a mattter of preference. Someone won't care for the Xbox games while drooling over the PS ones