More and more it seems like
wii u: ~720p/30
ps4: >1080p/30 (~/< 1080p/60)
If so, that says to me xbox will likely be the standard, ps4 will either have better visuals or perhaps higher frame rates (just as we see currently with consoles titles at 30hz and their pc ports at 60hz), and the wii u, if included in a cross-platform launch, may have to likely sacrifice quality to get to 720p/30, if the title not engineered to scale in such a way.
If these rumors end up being true, it seems less like competition and more 'pick your poison' with each probably differentiated by price.