It looks a bit odd.
I don't know if I like it or not. I like the clean lines, that there is not too much tacky decorations.
The round end looks a bit too old school cameray to me, it would look better if both ends were the same rectangular.
The chrome finishes are just bordering tacky.
The UMD part is much too overpowering in the design.
I don't think they'll put an UMD drive there, I quess they'd rather sell a separate reader (writer) that connects to the PS3 (via usb?).
It looks like it sholud be flatter and deeper.
Otherwise I ike the stylish clean front, wouldn't mind if the
real design looked something like that.
It looks similar in design as the PSP, I can see Sony going for something resembling with PS3 (mirror black, silver, acrylic...)
I remember I was a little shocked when I first saw the PS2 design. It does look ugly when viewed directly from front. But when you put it vertical on the stand, it looks much better (well, as good as a black slab can
)