I am an indie developer (Kyodai) with a
recent release on all major console platforms (Xbox, PS4 and Switch) and PC. My game is a quite complex one (using UE4) - fully dynamic lighting, PBR materials, volumetric fog, light shafts, dof, heavy post-process profile, etc. As a small two-person studio, I am making all the programming stuff (plus all three console ports with full support for PS4 Pro and Xbox One X), sound design, lighting, scripting, ui, optimizations, environmental art.
I will be short - personally I am more excited for PS5, because of the SSD/io speeds and VR opportunities (I am working on a VR title right now). At first, I
designed my game based on SATA3 SSD performance - I wanted everything to be seamless in the game - no loading screen, everything to be streamed in the runtime without any hitches and pauses. And I succeed until I started testing the game with normal HDD and made the first playable build on Xbox One. I changed quite a lot of the game until I got it to work properly with HDD (I am even using the "industry standard" elevators to stream and release huge chunks of data in runtime. From my point of view the capable developers this gen are making very special magic with the 5400 rpm restriction of today.
I can go in technical details, but it will be a long and boring wall of text.
I must add though that Microsoft, at least in our case, are more open with information about Scarlett (we have detailed relevant information from months). Like I said we are a small indie developer from Eastern Europe. Sony, on the other hand, are not. This doesn't mean that Sony are behind the schedule - maybe they just have a different approach. Maybe they have more (hardware/software) surprises that they want to keep a secret at the moment. If you give detailed information to a vast amount of (small) developers there is a better chance for leaks, etc.
Both consoles will be beasts of machines and huge upgrades to what we have today in PS4/Pro, Xbox One/X. I am execting a new golden era from a game design perspective. Even in AAA form.
Now, on the interesting stuff - I also talked with a friend, who is working for AAA developer (making multiplatform games for many years now) and has the latest devkits of both consoles.
My friend just shows me this pose regarding the power difference in favor of Series X:
Sadly can't give you more information because of the strict NDA.
One more thing though - also told me that actually, the PS5 devkit box is bigger than the Series X one. Of course, this can change with the retail version of the consoles. Neo devkit, for example, is huge and vastly different compared to the final Pro design.