I doubt that it will be able to support 4k resolutions when it is hardly supported on Pc's. Furthermore, games with 4k textures would be so large that they would hardly fit on a blu-ray disc, and downloading them from the internet would take forever. If Sony went through with this, it would be such a poor deal. No used games or backwards compatibility, it would be like a PS3 with more eyecandy.
I really think console gaming is going downhill with game developers and console developers not supporting used games or backwards compatibility with hard copies.
If the next playstation is like that, I would just buy a Xbox, unless it is similar as well, which is likely. At least Nintendo is going in the right direction, with backwards compatibility combined with more powerful hardware.
The information and rumours was from here:
http://kotaku.com/5896996/the-next-playstation-is-called-orbis-sources-say-here-are-the-details