I'm going to buy a PS 4 two years after its release maybe. After two years, I think the price would have gone down significantly and improvements would have already been made to the hardware. They're would be a lot more games available. But, if somebody would give me a PS 4 as a gift on its release date, then I wouldn't hesitate to accept it. That would be one of the best gifts that I would ever receive.
I'm probably going to do the same thing as you. Like you mentioned, more improvements will be made to the ps4. There ARE and will going to be bugs in the ps4, and a lot of people are going to be angry.