They are "mastered" from 4K sources, but still very much 1920X1080p. The color space is wider, though, and the bit rate higher. I'm sure they look quite good, but it's mostly marketing hype and an excuse to sell you those new Sony TV's (which under-performed at a recent AVS event compared to Panasonic and Samsung 1080p plasma models).
There is nothing set in stone when it comes to "4K" yet. The name is only used by Sony now, and it is not certain if there will be a new BD format that would be able to support the extra storage needs, even though a new compression codec (h265) has been finalized recently, I believe. You will probably need a new player, HDMI cable, etc.
I am planning to sit this one out.
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