So... the much hyped cell processors in the PS3 didn't deliver? This new thing build around a X86 processor and a AMD card is essentially a PC.
Not complaining. But why bother with a PS4? Especially if you can ditch your PS3 games.

Some of the games look great and I welcome the hardware update but I'm not sure what to think of the share button on the controller and Facebook integration yet.

Many of the game demos were impressive, but I question which ones represent actual game play. The few cross-platform titles like Watch Dogs and Destiny probably best represent what the first round of PS4 games will actually look like.
For example, the sweeping camera angles seen in the demos for Infamous, Agni's Philosophy, and Deep Down are not indicative of what the actual third-person perspective gameplay will look like (which will probably look very boring by comparison). The old man face presented by Quantic Dream was my personal "wow" moment, but it remains to be seen if they can pull that off in an actual game.
It also seemed like they threw out many empty buzzwords relating to social networking. I'm not sure the world needs millions of 5-15 minute game play clips flooding the internet with the new sharing feature.
That said, I think E3 this year is going to be amazing and I look forward to seeing what companies have cooking for the PS4.

I have just gotten me the 660 gtx last year and the games are all ran on max now with direct x 11 so those specs are nothing fancy you can get the same type of processor on the pc and few months down that graphics chip will be outdated all ready. Want cutting edge stick to pc. i have a xbox 360 and seeing they never had physx or any of that never again will i set foot on console turf

@Brendon Vorster Yeah but companies tend to target consoles first and port to PC later so even fast gaming rigs are held back by games designed to run on consoles launched in 2005.
A new generation of console games should carry over to better PC games too.

Agree. Sony PS4 disappoints. Have an ACER machine which has better graphics capabilities already. And also runs my other stuff. And the backwards compatibility issue with PS3 will kill my reasons for upgrading stone dead. This means the PS4 announcement is nothing but bad news for the moment. Has Sony really lost its way that bad?

Sony is taking the Apple positioning now apparently, cater to the yuppies and hipsters who want the latest hype not the guts and focus specifically on them. I don't think they want to cater to those who want cutting-edge and super hard-core performance, as they are more inclined to want backwards compatibility and therefore it opens the door to copied and pirated games. I am expecting the PS4 games to have a hefty price-tag then.

I thought the presentation was alright. What really caught my eye was that the Deep Down demo was actually being played. If you look at the bottom left of the corner, you will see these three objects that looked like weapons or a shield. I think that was live game play. Either way, PC is still the BEST choice to go. Like many of you said, your computer already does what the PS4 is going to do, and some even better. It was funny watching the people on the streams go wild over the fact it is running a 8 core. Little do they know, it just means a lot of multitasking, which is nice in a sense if you like to game, while d-loading big games, and watching you friend play all at once. haha I just wish we would stop with this "Console Exclusivity". I makes more sense for a developer to branch out to ALL gaming systems. I want Killzone 4 and Destiny, so for now, I am going to start saving up, so I can get a PS4.

why don't they try fixing the HDMI system so it will play any of the media I send to it from my PC. Although the menu system is nice, the porting technology is terrible. As well, they are just catering to hipsters. With that much brainpower they have become disconnected from what a user wants. I am not impressed...

Considering its components and power supply I think this is actually closer to a notebook rather than a juiced-out desktop. The large case or box if you will in will allow plenty of air to flow through the modest power sucking components making it very quiet compared to any compact notebook case or power hungry desktop.