Not all of the details about the system were unveiled, but its announced system specs suggest it will be comparable to a capable gaming PC. The console will have an 8-core X86 AMD processor and an "enhanced" Radeon GPU. In addition, Sony will be packing in 8GB of GDDR5 RAM into the system, which is significantly more (and faster) RAM than was rumored.
The PlayStation 4 will also, of course, come with a Blu-ray drive. Wi-Fi capabilities will be built-in, as will Bluetooth, USB 3.0 ports, an optical audio port, an HDMI port, and even AV ports for those who haven't yet made the leap to HDTV. The size of the hard drive was not announced.
Also not announced was the price or release date for the console. Sony did reveal at the end of the conference that the PlayStation 4 will be coming in "Holiday 2013," but was not any more specific.
What Sony did announce was online and connection features. Also, games - lots of games. Our PlayStation 4 game round-up contains the run-down of the next-gen titles shown off at the conference.
Many of the online features relate to Gaikai, the streaming video game company Sony purchased last year. Using the technology, the PlayStation 4 will be able to broadcast gameplay in real-time, and a dedicated "share" button on the PS4 controller (the DualShock 4) will allow players to share a buffered stream of gameplay on-the-fly. Other players can also take remote control of a player's game session and Facebook accounts can be linked with PlayStation Network accounts. The console will also be capable of streaming gameplay to the PlayStation Vita, turning Sony's portable console into a portable PS4.
Many other minute details were released during the presentation, as well as tons of new game footage. Sony has been playing its conference on repeat on its Ustream channel, which can be viewed below: