N64 being ahead graphically...it's an interesting question.

Yes, 64 bits > 32 bits. But there's far more to aesthetic. The fact of the matter is, N64 and PS1 were the first major forays into 3D and they've both aged terribly compared to the 16 bit era. Sprites are eternal. Indie makers still make games in that style--NO ONE makes 3D games with the unintentionally jagged, crude polygons of the late 90s.

I wouldn't make a blanket statement and call either one better.

Abe's Odyssey has aged better than Perfect Dark or Goldeneye. Mario 64 has aged better than Metal Gear Solid. I get annoyed at console wars--but I definitely don't buy that N64 was dominant over PS1. Frankly, N64 was more of a kiddie system in presentation and challenge. It was severely lacking in RPGs, mature titles, shmups, and other genres. Sure, I loved it as a kid, but as an adult whose tastes have evolved there are some pretty glaring chinks in its nostalgia armor.