An internal memo can be found on kotaku.
Cerny called it a "supercharged" PC, with an X86 CPU and 8GB of GDDR-5 memory, 8 CPU cores, 2 Tflops of processing. He called it "a platform for game creators by game creators," and showed off the new DualShock 4. It boasts improved latency and rumbling, along with a stereo camera and light bar to keep track of the controller.
Cerny then detailed the ease-of-use for the consumer. The PlayStation 4 includes a suspend/resume button like the Vita, letting you shut down and pick up a game quickly. Digital titles will be playable as they're being downloaded, since you can start playing and have the rest download in the background. It also, as rumored, will always be recording video and allows you to share it via a dedicated "Share" button. This also means you'll be able to view and comment on streams of your friends. The friends network will use "real world friends," letting you import friends from existing social networks in addition to your PSN ID friends. Sony is also planning companion apps on tablets and Vita, similar to the Wii U's Miiverse.
The console is aiming to have predictive game downloads based on your preferences and history, so you'll find content pre-loaded on your system. Cerny says the goal is to reduce download time to zero by predicting what you'll want to play.
Gaikai CEO Dave Perry finally shed light on how Sony will use the acquisition. He said that when browsing any game, you can press X to instantly try it out. Perry said he supports the idea: "try it for free, share it if you like it, and pay only if you love it." The Vita will also support Remote Play to "instantly" switch screens via Gaikai technology.
The "longterm goal" is to make all PS4 games playable on Vita, implying that some may not be at first. PlayStation 3 games won't be natively playable on the PS4, as rumored, but Gaikai seems to be Sony's solution. "We could one day put PS1, PS2, PS3, and PS Mobile games on any device, including PS4." Their philosophy is said to be "everything everywhere." The title PlayStation Cloud was only teased, with more details promised later.
Near the end of the presentation, the console was confirmed for a holiday 2013 release.
article from Shacknews, Steve Watts