Xbox exec Yusuf Mehdi says most of Microsoft's pre-order supply has been sold out (an incremental positive for CPU/GPU supplier AMD). Early pre-order demand was hurt by game resale/Internet verification policies Microsoft decided to backtrack on. Sony announced last month PS4 pre-orders have topped 1M.
The One, which is bundled with a new Kinect and is being pitched as a comprehensive home entertainment platform, will cost $100 more than the PS4, which has a stronger gaming focus. Eurogamer just reported Sony is working on a virtual reality headset for the PS4 that's set to launch in 2014.