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Dodece said:
Given the current economic climate, and the situation at Sony internally. I have found myself leaning towards this very conclusion myself. Sony seems to have far too many concerns as of this time to be marshaling resources for a new console in a future that is very uncertain in the short term. Sony seems to need to finish restructuring, and it is in dire need of a global economic turn around. Currency exchange rates, slow downs in Europe, massive layoffs, and a number of unprofitable years. Speak volumes about Sony's readiness to invest in a new console generation.

That isn't to say this would necessarily be bad news. For console warriors on a certain side it may be depressing, but a delay may be more beneficial then harmful. It might allow Sony to deliver a better product to market, and a longer development cycle would offer a more meaningful library at launch, or give the PS3 a better tail wind then would otherwise be the case.

I think I need to see something in the realm of financial proof that Sony could afford to bring a new console to market next year. Before I will believe it is even a remote possibility. It isn't that Sony would necessarily lose a lot of money on a new console, or that it couldn't make money on a new console. The real question is does Sony have the resources to front a new console. I need to see where Sony is going to get the three to four billion to launch a new console. I am talking about what they need to spend before they sell a single unit.

It won't cost Sony $3-4bn to launch the PS4. 

EDIT - And.... a lot of their PS4 R&D costs will have already been incurred by now.