Iwata: "PSN and Live too far developed for us to catch up"

[superchunk]

Better question to ask what features do you really think it won't have?

We know it has in=game (pause game) chat and video chat.
We know you can make friends instantly without long codes.
We know you'll have usernames and avatars (miis).
We know it will have some sort of acheivement idea around miiverse, maybe not what we're used to in Live/PSN and it won't be forced on devs. (with 3rd parties doing it for everything already you'd have to expect them to continue)
We know you'll have in-game (same game) chat as there are already 3rd party headphones coming.
We know you'll have strong community system. (miiverse)
We know you'll have multiple accounts per system (up to 20 I think i read specifically)
We know you'll have digital downloads, which means obviously DLC, demos, and patches.
We know you'll have media services from every major supplier and a browser (how good browser is, is up for concern, but with a tablet controller and app patching capabilities, I'm sure it will be fine)
We know you'll have wireless-n connectivity or LAN
We know you'll have all this even when TV is being used by something else through the gamepad
We know you'll have this as a standard set across ALL owners because most of it comes through the gamepad and not required extra devices like headsets and cameras/kinect.
We know you'll have just about every major feature you would want or expect because they are derivatives of the things I listed above.

What likely won't be there are certain content items like buddy watching movies that Live offers, cross-game chat while still playing a game, Home-like feature (though Miiverse maybe that), specific ties to content providers, cross-platform multiplayer like a rare few games on PS360 have done, etc.

I think people really need to look at the big picture of details already known when they hear snippets of out of context quotes like this.