The hardware of the PlayStation 4 has been described as a "Supercharged PC", and with good reasons as you will see below:
CPU: 8-Core AMD "Jaguar" x86 64-bit GPU: On-die Radeon GPU with 18 "compute units", 1.84 TFLOPS with GPGPU Functionality RAM: 8GB Shared GDDR5 Memory (Bandwidth of 176GB/sec) Optical Drive: BluRay x6 (DVD x8) Storage: Local HDD Drive Additional Features: Dedicated Downloads and Video/Encoding chips for live streaming, Downloading in the background even as you play the game and uploading gameplay video
These specs are pretty strong considering the fact that it's a console. The biggest suprise most people seem to note is the use of GDDR5 memory which is normally associated with graphics cards rather than RAM - it's sure to grealy decrease loading times. The PlayStation 4 will be able to output video games in HD and other content in up to 4K.
Touch Generation?
The new Dual Shock controller differs slightly from the ones we've seen previously. The first and obvious difference is the light atop the controller used for player recognition. Secondly we see the touchpad in the middle of the controller which is compatible with two-point gestures. Thirdly, we can see a speaker on the face of the controller. Finally, some of the buttons, namely Start and Select are missing, replaced with the all-new Share button used for social interactions including video sharing and the Options button. The "PlayStation" button remained where it used to be.
I spy with my little eye...
The PlayStation 4 was presented with the new PlayStation 4 Eye, very much similar to the Kinect in functionality:
Twin 1280x800@60FPS cameras (640x480@120FPS, 320x192@240FPS) capable of depth and body motion detection
Four microphones array with the capacity of searching for the sound source
85-degrees Field of View
Enhanced PSMove support
Facial recognition, including Face Login
Voice control, much like with the Kinect
AR Card Compatibility
Player recognition (hence the lights on each Dual Shock 4 controller)
Alright, but what about the games?
Games will come on BluRay discs as in the previous generation as well as in form of PSN Downloads or, and this is a new one, via Gaikai streaming. As far as the digital sides of things is concerned, the console is designed to predict your future purchases based on your preferences and "pre-download" small sections of the game so that you can start playing right away without having to wait for the Download process to complete. This is achieved by a separate chip dedicated to Downloading alone. The integration of Gaikai technology will also allow for "Try before you buy" functionality so that you can play any game available in the store for a limited period of time before making your purchase without having to download anything. Despite the earlier rumours, the PlayStation 4 will in fact support used games.
Another special chip will deal strictly with Video which you can then share in the Cloud using the Share button. Gamers will also be able to spectate in other player's games, communicate with them join in if invited or even control certain game elements using the Director function. The large amount of RAM will allow for suspending gameplay states - switching to Suspend will save the entire game state to the on-board memory so that you can resume where you left off whenever you want. The forementioned Gaikai technology will allow players to continue playing on their smart devices such as phones or tablets, the prefered device for this mode will be the PSVita - this functionality was called PlayStation Second Screen
This approach was called Integrated Gaming - it aims at including your PlayStation experience wherever, whenever you are. Unlike in the previous generation, Remote Play is an integral part of the system rather than particular games and will be available for all of the PS4 content. The PlayStation 4 is not backwards-compatible, however streaming of PS1/PS2/PS3 titles is being actively developed by the Gaikai Team. The fast speed of the on-board memory is said to reduce the loading times to practically zero. There is also a high number of social interactivity within the framework which is geared towards making gaming an experience best enjoyed among friends.
...are the developers on-board though?
Very much so - a large number of developers pledged to support the device and signed contracts with Sony, so a constant flow of content should not be an issue - after all, Sony asked the developers what exactly they expected from their new console so all-in-all, this is partially their creation.
Interestingly enough, we can see Blizzard among the developers. On-stage, a Blizzard representative stated that they've always wanted to return to console development as those were their humble beginnings and the PlayStation 4 is a fantastic opportunity to make that step. They will be porting over Diablo III with exclusive PlayStation 4 content including a Split-Screen feature for local multiplayer of up to four players. As the representative said, they wanted "One Couch to Rule them All" and implementing this idea was their core goal
What about Multimedia?
Outside of the usual DVD and BluRay support, the PlayStation 4 will have strong support from various streaming websites:
With that kind of support you can be sure that the new PlayStation will quickly become an integral part of your living room.
What's the UI like?
Fully customizable. One of the main focuses when developing the PlayStation 4's ecosystem was a user experience which can be shaped to the player's personal liking. Everything from the Menu's to the Store and Adverts is actively influenced by what and how you play, what you want to see and what you wish to ignore.
That's all fun and dandy, but probably better with friends...
Another forementioned focus during development were social features which are now more developed and more integrated than ever, from detailed personal profiles through video streaming and uploading to active participation in other people's games via the Director feaure as well as spectating and chatting with other players as they play.
PS4 Has No Gaems?
Actually, PlayStation 4 already has some games - here are the ones shown on the stream:
Killzone: Shadow Fall
Knack
Drive Club
InFAMOUS: Second Son
Witness(Timed Exclusive by the developer of "Braid)
Deep Down(Working Title)
Watch_Dogs
Destiny
Unreal Engine 4 Tech Demo: Elemental
Agni's Philosophy(Square-Enix's Tech Demo from E3 2012, now running on the PlayStation 4)
Games Confirmed but not shown yet or confirmed post-presentation: