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they are working on the ps4 yes, as is nintendo on the wii2 and microsoft 720. but i cannot possibly see them completing the ps4 let alone think about shipping the ps4 until atleast 2015-2016...thats like 8 years of the ps3...but development of games would not offically end for another 2-4 years...kinda like the ps2

im also thinking if anything the ps4 is gonna be a ps3 just beefed up and maybe more casaul friendly accessories and what not. a cell proccessor with more power and maybe even fused graphics card so it would be like a cellgpu (kinda like the amd fusion or w/e they are working on, supposed to make it faster and more efficent) or something, more ram, better psn like more ps1 classics and probably ps2 classics, maybe even a xmb with more pc like cabablities like word pad and crap like that...but who knows really....we will have to wait and see like always...