First off: I can say i had an big thread that took 2 hours to make that was up an running about the playstation press but for some reason 2/3 got deleted so the information below is from: http://au.psp.ign.com/articles/114/1146358p1.html
Sorry about that, it was an really good discussion thread.
NGP: About the hardware:
Sony formally revealed the heavily-rumored PSP2 in Japan today. The device has been codenamed NGP for "next generation portable." It is set for release by the end of 2011. Pricing information was not provided.
NGP will use a new game medium, a small flash memory based card, dedicated for NGP software titles. The cards will store full game titles and add-on game content or save data. Sony notes that they'll be able to provide higher capacity cards in the future to allow developers to sore more game data.
The NGP contains a touch screen on top and a touch pad on the bottom. This will allow players to interact with games through "touch, grab, trace, push and pull" moves of the fingers.
NGP, the successor to the PlayStation Portable, is getting an all-new interface that highlights the devices' connected capabilities and indicates the direction in which Sony intends to take its powerful handheld. Dubbed LiveArea, the interface acts as a hub page for games, and like the XMB before it LiveArea allows users to hop between the different parts of the PlayStation space. An icon within LiveArea confirms that the NGP will have Trophy support.
"It's easy to hop in and out of the game almost instantaneously," said Ryan Clements, IGN's reporter on the ground in Tokyo, "Think about how fast you can open and close apps on an iPhone; same speed here when launching games."
LiveArea makes full use of the NGP's 3G connectivity, and features live message boards.
It also utilises location-based services, allowing players to see where their friends are and what they're playing in real-time. An extension of this is the Near application, which displays a map of your location containing avatars of other people playing the NGP nearby. If someone's playing a game you don't yet have you can jump straight to the PlayStation Store to purchase it.
CPU:
ARM Corte-A9 core (4 core)
GPU:
SGX543MP4
External Dimensions:
Approx. 182.0 x 18.6 x 83.5mm (width x height x depth) (tentative, excludes largest projection)
Screen:
(Touch screen) 5 inches (16:9), 960 x 544, Approx. 16 million colors, OLED Multi touch screen (capacitive type)
Rear touch pad:
Multi touch pad (capacitive type)
Cameras:
Front camera, Rear camera
Sound:
Built-in stereo speakers, built-in microphone
Sensors:
Six-axis motion sensing system (three-axis gyroscope, three-axis accelerometer)
Three-axis electronic compass
Location
Built-in GPS
Wi-Fi location service support
Keys/Switches:
PS button
Power button
Directional buttons (Up/Down/Right/Left)
Action buttons (Triangle, Circle, Cross, Square)
Shoulder buttons (Right/Left)
Right stick, Left stick
START button, SELECT button
Volume buttons ( /-)
Wireless Communications:
Mobile network connectivity (3G)
IEEE 802.11b/g/n (n = 1x1)
(Wi-Fi) (Infrastructure mode/Ad-hoc mode)
Bluetooth 2.1 EDR (A2DP/AVRCP/HSP)
About the Software:
During Sony's press conference today where it revealed the next iteration of the PSP system, currently codenamed Next Generation Portable, a slew of tech demos and games were shown.
Sony said the NGP rivals the graphical power of the PlayStation 3, and the company proved it. Sony released a trailer that showed off several key titles, including: Hot Shots Golf Next, Killzone, LittleBigPlanet, Wipeout, Resistance, and Uncharted.
Other first-party titles also include Little Deviants, Gravity Daze, Reality Fighters and Broken.
Shuhei Yoshida, president of SCE Worldwide Studios, took the stage to give a live gameplay demonstration of Uncharted. Shuhei first controlled Drake using the touch screen and moved him through a jungle environment. He later showed he could control Drake swinging on a vine using the NGP's SixAxis capability. Drake can also be controlled by the bottom touch pad. The built-in gyro sensor was also demoed to control Drake's aiming.
Later, Jun Takeuchi of Capcom took the stage to announce Monster Hunter Portable 3rd, a downloadable version of Monster Hunter Portable, is currently in development for NGP. He gave a quick demo on stage. Takeuchi also gave a short demo of Lost Planet 2 on the NGP, saying it took roughly two weeks for his team to port over. He didn't announce any new games but said to stay tuned.
Next up, Toshihiro Nagoshi from SEGA appeared and showed off a video demo of Yakuza: Of the End, a spin-off zombie title currently set for PS3. Nagoshi did not announce that it would arrive on NGP.
A new Dynasty Warriors game was confirmed. Tecmo Koei's Akihiro Suzuki showed off some gameplay that allows players to simply tap an enemy to kill them. Metal Gear director Hideo Kojima later came out to show off a real-time demo of a cutscene from Metal Gear Solid 4: Guns of the Patriots. Kojima envisions the possibility of creating a PlayStation 3 title that players can than transfer to the NGP to play on the go. He'll be presenting his new project at E3 this June.
Making a surprise appearance was Epic Games' Tim Sweeney who showed off two real-time demos, Citadel, which is currently available on iPhone, and Dungeon Defenders on Android. And last but not least, Philip Earl from Activision announced a newCall of Duty title was in development for NGP. No gameplay footage was shown.
Here are a list of current third-party publishers and developers supporting the NGP: Grasshopper, IREM, Level 5, Namco Bandai, Square Enix, Ubisoft, 2K Games, Rockstar, Capcom, SEGA, Tecmo Koei, Konami, Epic, Activision.
Software Franchises shown or talked about at PlayStation Meeting 2011 (titles are not final):
* Killzone
* Uncharted
* WipEout
* LittleBigPlanet
* Call of Duty
* Resistance
* Little Deviants
* Hot Shots Golf
* Reality Fighters
* Gravity Daze
* Smart As
* Broken
* Hustle Kings
About Playstation Suite:
With the announcement of PlayStation Suite, Sony has taken their foremost brand and created a ubiquitous game platform that will span select Android devices and the Next Generation Portable, otherwise known as the PSP2.
The PlayStation Suite takes aim at Apple's app platform, and will allow the company to bring specialized PlayStation games to a wider range of devices, including tablets and smartphones. To ensure that devices are capable of running PlayStation games to Sony's standards, the company will implement a certification program that will require hardware manufacturers to adhere to specific technical specifications and support guidelines before the platform can or official PlayStation licensing can be used. 
To kick things off, later this year Sony will be offering a number of PS one classics, though the specific title offering was not confirmed.
The company also plans to create an Android-compatible version of the PlayStation Store, which will be the company's sole distribution platform for third-party devices. Both the PlayStation Suite and PlayStation Store will require Android 2.3 Gingerbread.
Though still unconfirmed by Sony, the first device to support the PlayStation Suite on Android is expected to be the rumored Sony Ericsson Xperia Play.
Of Course That's Just My Opinion, I Could Be Wrong
