Wow, Sony know how to put on a good show.
I recommend everyone watch the full 2hrs conference video that is being streamed here.
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If this is some indication of what the next generation holds it is pretty exciting stuff.
Some people seem to be a little disappointed that the PS3 is only twice as powerful as the Xbox360. Considering there is only going to be 5 months between launches, I think this is quite amazing.
Here are some of the things that excited me.
Spring 2006 launch date. (They did not specify Japan, does this mean it might launch in the US at the same time?)
Blu-Ray drive.
1080p resolution. (I'm glad I only have a 480p capable display and have held off buying a crappy 720p display. 1080p is the only way to go.
Two simualtanous 1080p outputs over HDMI. Great for two player gaming, no more split screen. You can use the second output to drive a computer monitor with additional info. All the arguments for the DS are just as valid here.
Always on broadband connection, hopefully Sony will keep it's service free.
Built in Wi-Fi
7 controllers over Blue Tooth (What happened to the multi-tap revenue stream?)
Memory Sticks
Connectivity with PSP
Cool console design, especially the shiny black model, it will do well with my PSP.
Eye Toy demo with the water
Killzone footage
I'm probably still going to hold out for the full writerable Blu-Ray, HD recorder vision, but still a pretty impressive showing from Sony.