So should you just throw away your gaming rig and replace it with a Series X? Probably not. But Microsoft’s new console does signal a shift in the modern gaming world, one where PC players don’t always have the hardware advantage. It’s a bit of a throwback to the mid-90s, when the PlayStation was delivering 3D graphics before most PCs could handle it.

So I’m sure you’re wondering, how will the PlayStation 5 compare? At this point, we only have broad sketches from Sony: it says the system will also have an AMD Ryzen CPU and RDNA GPU, but we don’t know how similar they’ll be to the Series X’s hardware. We also know it’ll feature faster load times than the PS4, thanks to SSD storage.

Notably, both next-gen consoles will support hardware accelerated ray tracing, giving you more realistic lighting and reflections. On PCs, only NVIDIA’s RTX lineup supports that today. And turning on ray tracing can lead to a significant performance hit on games that really lean on it, like Control. It’ll be interesting to see if AMD’s revised RDNA architecture handles ray tracing more efficiently than NVIDIA’s hardware.

The real question with the Xbox Series X: How much will all of that power cost you? We can only guess at the moment. The original Xbox One launched at $499 with the ill-fated Kinect accessory, while the PlayStation 4 was $100 less. That price difference, and a better library of exclusives, was enough to give Sony an early lead this generation.

The Xbox One X was also $100 more expensive than the PlayStation 4 Pro when it launched, though that difference was a bit more excusable since Microsoft was aiming at enthusiasts. I wouldn’t be surprised to see Microsoft stick with the $499 price, but given the rising costs of computing hardware in general, plus the positioning of the Series X towards enthusiasts, it could conceivably reach up to $550 or even $600.

Sony, meanwhile, has been cagey about saying anything about the PlayStation 5’s costs. That console is rumored to have a slightly slower GPU than the Series X, so it could conceivably come in a bit cheaper. But again, we really don’t know. Microsoft is also reportedly planning a more affordable and less capable next-gen console, code-named Lockhart, that could be an easier entry point for people who don’t care about native 4K gaming.

One thing that PCs gaming will always have a significant advantage over consoles though, is: flexibility. You can always slap a new video card, RAM and storage into a gaming rig when it gets a little long in the tooth. But, consoles are frozen with the hardware they ship with. That’s what pushed Microsoft and Sony to release the One X and PS4 Pro in the middle of this console generation — those original consoles simply couldn’t keep up with the fancy new 4K TVs consumers were buying. As powerful as the Series X will be, it’ll never be something you can open up and tinker with. So rest easy PC gamers, your rig still serves a purpose.

The Xbox Series X will feature an NVMe SSD, as we previously heard, to dramatically speed up load times. And on the graphics front, Microsoft also reiterated that the Series X will feature hardware-accelerated DirectX Raytracing for “true-to-life lighting, accurate reflections and realistic acoustics in real time.” The PlayStation 5 will also have its own spin on raytracing, and since it’s also running an upcoming RDNA GPU, it’ll likely be very similar to Microsoft’s approach. It’ll also be interesting to see how the consoles manage raytracing without hurting performance — something that’s been an issue with NVIDIA’s GPUs.

Microsoft also unveiled a new technology called “Smart Delivery,” which will allow you to buy a game once and play the best version possible on the Series X or Xbox One. It may not sound very exciting, but it’s going to be a useful feature for gamers as they transition to the new console. You could build up a library of Series X games with your current Xbox One, and it could conceivably let you keep playing the same title across multiple Xbox consoles in your home. The company says Smart Delivery will be standard for its exclusive Xbox Game Studio titles, like Halo Infinite, and it’ll be available for third-party developers to implement.

Beyond those tidbits, Microsoft fleshed out a few more details on previously announced Xbox Series X features. A new “quick resume” capability will let you instantly jump back into multiple titles from where you left off. That’s something you could do with a single game on the Xbox One, but it didn’t always work reliably and required using the “Instant On” power mode, which left the console in standby instead of completely powering it off.

Additionally, Microsoft is implementing “Dynamic Latency Input” (DLI) in the Xbox wirelss controller to reduce the delay between the buttons you’re pressing and what appears on the screen. Microsoft claims the new tech should synchronize input “immediately” for more responsive gameplay. I wouldn’t expect DLI to be something regular gamers notice, but it could be helpful for esports players and anyone who demands the lowest latency possible.