I think it's probably way too early to conclude that MS isn't going to step up the offerings with Live to be more competitive with what Sony started doing w/ PSN+. The other side of that, we need to see how Sony will integrate some of their other services like the Ustream stuff, streaming of catalog titles ("backward compatibility"), etc into existing or new paid services.It goes to the other benefits of the membership. Which is why this go around I am purchasing a PS4.
Xbox Live: (For Xbone)
* Multiplayer
* Access Netflix and other content you already subscribe too
* Friendlier user interface
* Access to demos
* Cloud
PS4: Free
Access Netflix and other subscribed content
Access to friends list
Access to demos/store
Playstation Plus: (For PS4)
* Multiplayer
* Access to timed 60 minute trials of the real game
* Access to 5-6 free games per month (This month happens to be Uncharted 3, Deux Ex Revolution, X-Com, Little Big Planet, Saints Row the 3rd and some others - But they switch, and you can keep all the games from any month as long as you want. I have about 10 so far. - This is where it pays for itself automatically)
* Access to decent sales. Nothing like Marketplace on Xbox Live, but Sub-Par to Steam still. Rotating daily and they are getting better.
* Ability to share between accounts - I can use the same Playstation Plus account for VITA and PS3/4. Which means I also download free games on the Vita.
* Cloud
* Auto downloads and the ability to schedule your machine to turn on and do updates while away
I would say the biggest value are the free games. I would pay $49.99 a year just for that ability. But to roll all those other services in creates a huge value add. Adding multiplayer in there doesn't even phase me, because of all the other perks aside from that. Xbox Live's perk is they put a paywall behind free applications anywhere else, and multiplayer. There is no value there at all. And as you know, their sales are horseshit and their marketplace prices are horrendous.
Those are some pretty awesome AAA titles we get for free. I do not see Microsoft ever doing that. I have already paid for the whole year and then some just by downloading 5 games I was already going to purchase anyway. Everything else is gravy, but still pretty good features and well worth the price.
So there is a big value difference there. And Microsoft with it's TV shenanigans, is barking up the wrong tree when they think they know what value means to a console purchaser. It sure as hell isn't having an ability to check fantasy football scores while being able to switch back to a game you are playing within 2 seconds.
Sony certainly has earned the benefit of the doubt, but I think they both have a lot to figure out and announce before launch for both paid and free services.