I am taking careful notes, thank you :)!
A good point regarding sound. I would probably be using headphones most of the time anyway, but an important factor nevertheless.

My current computer is a desktop (iMac), so that's why I'm looking at a laptop as a second computer.

There aren't any console-exclusive games I'm interested in at the moment. Plus with a laptop I can also play my current collection on GOG & Steam. So that's why I'm strongly leaning towards a laptop (in addition to the secondary uses you mentioned above), providing I can get a powerful enough one at my price point.

In my case at least, it's looking like getting an acceptable laptop would not be that much more expensive than a PS4 though!

Gaming? PS4. Unless by gaming you mean Dwarf Fortress or something. You need something with actual graphics processing capabilities for gaming and you'd need to spend an absolute fortune on a laptop to get one that fits the bill. Even then it will set your legs on fire.

PS4 is the only realistic option of the two.

If you don't want to only game with your laptop but you are actually planning to move it and take it around, I would go for a 15". Of course the bigger the screen the better it is for your eyes and for the gaming experience, but if that was the only parameter I guess you would have gone with a desktop pc.
I've been playing on 15" laptops for a long time and I think they are a great trade-off between portability and user experience.

Good points to think about, thank you.

In my case, one of the instigators of this whole process is that my son is getting old enough to want to play games now, and some games he wants I cannot run on my current computer. So the new system would partly be for him, and partly for me. In either case, I'd likely just buy a few select AAA games per year. I really don't think I would be using the TV at all for other purposes if I got one, I haven't had one in over 10 years now and don't miss it at all.

I usually find it easier to game with my children on a console. That said, one day, we'll have a RPG LAN party that lasts a whole summer. :)

I would also suggest to look at future releases or, if you have friends with consoles, try a PS4 out yourself. Right now, it sounds like the laptop might be the best bet but that would be if you are looking for a new computer in general.

Why not get a HTPC type thing? They're the size of a console with the performance of a PC and for $1,000 you can get a good one. Might include a controller too.

Laptops will overheat and etc. etc. and I'm sure one of those HTPCs/Steamboxes/whichever you go with can have full functionality for keyboards and software.

'Cause I never heard of such a thing before :D! Thanks, I will look further into that option as well.

I'd also recommend the Gamecube or the PS2, tons of games and fairly inexpensive to get ahold of.

The big question is: Are there any games you NEED or REALLY REALLY WANT from the PS4? Honestly although it's the new generation, very little is coming out and games that do tend to lower resolution to make it run at 30fps. Many many times TB's said he hasn't turned on his PS4 or XBone for months because there's nothing on there to play.

Don't forget anything you get on PS4/XBone is bound to be broken and require tons of patches that are 10Gig or larger.

In my opinion, ignore the current console generation until they get things together or there's at least 5 must-have games you want.

As a note, unless you have constraints in space (although it seems you do) or plan on taking the laptop everywhere, you might consider building a normal PC. I built my current rig for $520 and performs everything i want and need. And you don't NEED an HD TV/Screen, the TV i'm using i'm running at 1280x720 and quite large, you can get at Walmart for about $200 (maybe $300 unless it's a heavy sale like black friday...). Also to note this gaming computer is in the living room so it doesn't take any real space since i'm not using a real desk.

Really have to agree wth Navagon. PS4 already has 482 games covering most genres - have a look, there should be something there for everyone, and you can expect every new game going forward as well. The divide between what is a PC game verses a "console" game is narrower than ever, most titles of any notoriety are going to be on both (ALL) platforms. (So saying you're not interested in current console games makes little sense to me)

Aside from that, there is no screwing around setting things up. Grab the PS4/XBOX controller and generally you're playing two minutes later. With a PC or laptop you have to fiddle with settings, installing drivers, generally muck around patching, trouble-shooting, then modding games to work properly. Consoles having standardized hardware means everything works out-of-the-box (typically). Easy patching, easy widescreen, easy controls.

Furthermore, gaming on 40" LED TVs is a real pleasure. Consider that verses a small 15" laptop, most of which I've seen the screens have terrible black levels due to the back-lighting and low contrast ratios. (Not to mention battery life). I've not researched it, but I expect you'd have to pay serious money for a laptop with a high-quality panel and graphics horse-power, and even then, only 15-17"? No, if you like to be immersed in game worlds, bigger is better, and contrast is king.

And if you want to play co-op with your family (co-op games are FUN), sitting in front of a TV with controllers is going to be far more comfortable than crowding a small laptop. Though of course you need an extra controller.

By the way, I do not own a PS4 (yet), but whether you go for that or an XBOX (I'm platform neutral), as said above, I think console gaming is the better option. (Where a top-spec gaming PC is not an option).

Here's from the page... So there's less than a 100 that's PS4-only and the rest are cross platform... I don't see a list of how many of them are PSN only titles in the form of indies and other things...

I tried to buy on the PSN store once, and i couldn't get my card to go through, so i gave up...

And don't forget games you buy through the PSN store may not work when you download them. Persona 4 (i think?) had one such huge issue, TB commented about trying a ton of stuff for 4 days redownloading that game until finally throwing up his hands in frustration and going to the store to buy a physical copy....

Just my 2 cents. I was also thinking about upgrading my PC (buying a newer laptop...) but it still works great except for some AAA games. So, since I want to buy a 40" screen to watch films (and I needed to get a DVD/Blu-ray player since my laptop doesn't have one) I decided to buy a PS3. That little console managed to ignite the gaming flame in me similar to when I was around 10 years old. I only have six games for it, but it also plays my movies (and youtube which can be controlled for my smartphone) and lately I've been using my laptop for web surfing, video editing and not much more. I even use the PS3 for music (it's my house's little entertainment box). I knew I could get a PS4 too, but like everyone says, it doesn't have THE must have games that PS3 has (if you like those games, of course) and eventually I might even get one, but for the mean time, the PS3 costed me half of what the PS4 is, and does a lot more. The Last of Us might be on PS4, but the PS3 also has the Uncharted trilogy, the HD versions of Ico and Shadow of the Colossus, Catherine... etc... etc... I really think that if you want a something with gaming in mind, leave the laptop and buy a console. I can't recommend the PS3 enough but the PS4 should eventually surpass it (in a couple of more years most likely.´

I still like my GOGs of course =D haha

Just get the console, TV, some games + the online cost.
Your child will be able to go to school and swap games etc.
A cheapish laptop will be underpowered and probably suffer from over heating.
I would be wondering when the hardware revision 2.0 for the PS4 will be happening.
PS3 had it and come out with a better blu-ray and a price drop.