Can’t spare two hours to listen to game developers talk about how great things will be in the future? We’ve got you covered with quick run-downs of the PlayStation 4 hardware, the new DualShock 4 controller, and all the next-gen games that were announced for the console during the event.

If you don’t even have time to read the highlights and watch the trailers, you can check out the satirical 3-minute abridged version of the presentation created by VideoGamerTV. It’s surprisingly accurate for how funny it manages to be.

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Mere hours remain until Sony is expected to unveil its next-generation video game console at a major event in New York. The excitement is building while the rumors and leaks surrounding the console have filled gamers’ imaginations this past week. Sony itself has even added to the hype with a series of retrospective videos on past consoles and games that have been posted to the event’s web page.

This evening the speculation will end and Sony will either usher in a new era of video games or disappoint millions of gamers across the world. The company is obviously confident, as the presentation will be streaming live online. Sony clearly wants the entire world to be watching.

The presentation will be streaming in several different locations. The event website will, of course, host the stream, as will the latest PlayStation Blog post about the event. The PlayStation Facebook page will also have a stream available, and PlayStation 3 owners can watch the presentation live on their consoles through the PlayStation Home app or through the “What’s New” section of the PS3 Media Bar.

The presentation begins at 6 pm EST / 3 pm PST / 11 pm GMT, which is also 10 am in Sydney and 8 am in Tokyo on February 21, for those gamers on the other side of the world.

Don’t be late. Console announcements don’t come often.

The rumored hardware architecture of Sony’s new PlayStation and Microsoft’s new Xbox makes it unlikely the new consoles will be backwards compatible. The Wall Street Journal, however, is reporting that Sony’s new console may provide backwards compatibility by streaming games through the cloud.

Citing “people familiar with [Sony's] plans,” the Journal states that the next PlayStation console will offer PlayStation 3 games and stream them to users online.

This rumor seems credible because Sony last year purchased cloud gaming company Gaikai for $380 million. At the time, Andrew House, president of Sony Computer Entertainment, said that the company would use Gaikai to “deliver a world-class cloud-streaming service that allows users to instantly enjoy a broad array of content ranging from immersive core games with rich graphics to casual content anytime, anywhere on a variety of internet-connected devices.”

If the rumor is true and the next PlayStation console does include streaming games, the challenge for Sony will be keeping server and bandwidth costs down. Just last year, Gaikai competitor OnLive had to re-form its company and lay off half of its staff as a measure to stave off bankruptcy.