The hype has been based mainly on speculation and that's likely to lead to some disappointment -- depending on how reasonable your own expectations are. I'm still not convinced that the PS4 will be released. I'm not saying it won't, I'm just expressing my mindset going into the event. If I were to be 'optimistic' I'd say, yes, the PS4 will be revealed but I know it IS 'optimism' and so therefore, regardless of whether it's shown or not, I won't be disappointed ... That said:
Pricing will definitely not be announced. They may allude to a lower entry point to the PS3 just to ease the minds of the gamers. This would immediately stop any possible backlash from the media prior to launch; although, conversely, it could lead to lower than reasonable price guesses from the media which would set people up for disappointment anyway ... Swings and roundabouts, but I think it's still the best strategy to avoid price at the moment.
I think the controller will get an update for sure. I'm one of those people who just didn't like the triggers entirely. A little hook in their design would easily solve any complaints (and there have been many). I'd say the grips will be slightly wider too, regardless of whether it's to accommodate a touch screen. Touch-screen could be there, but it's likely to have pretty simple use in order for them to justify using the Vita as an alternative second controller. The reason I say that is because people would expect it to do exactly what the Vita can do for a fraction of the price.
We will get announcements of 1st party games for the system (if the PS4 is revealed of course). Something from the big studios seems inevitable, such as Naughty Dog, Sucker Punch and Media Molecule, but target renders are going to be a thing of the past -- in my opinion -- and Sony will stress that what we saw in those reels WAS actual game engine assets. The one exception could be GT.
There will likely be a Gaikai section in which Sony lay out their plans for the future of that feature. Backward compatibility will also be mentioned in the same section but it will be left open to speculation for now. In the end I think we'll get a little of both, simply because they'll want traffic to increase for PSN not diminish and if you could play those PSN PS3 games you downloaded from the store, you would then be inclined to immediately download them again in the drought period (and we know there always is a drought period after the initial launch)
PS+ will be announced but it won't appear immediately at launch, as was the case for the Vita. The reasoning for this is quite obvious: There won't be enough games to make up a decent instant game collection and 3rd party's are NOT going to want to give their games away for free out of the gate. This is another reason I think BC is important, especially if these games can be unscaled to 1080p. It won't make much difference because the assets will still be 720p, but it's enough to warrant excitement from Sony fans.
A Vita price drop will be announced and will take effect the day after the show. Perhaps we'll also see a Vita.5 with built in memory too. This would go a long way to assuage the concerns and complaints of the media and potential buyers. Gaikai will also be mentioned in this section because the Vita is likely to be able to connect to the server and play any PS3 or PS4 games available.
Hardware specification will NOT be mentioned. They'll demonstrate what the machine is capable of with their game reel ... and perhaps a one off or two. That's all that matters at the end of the day. Regardless of whether it's slightly more powerful or slightly weaker than the 720, it's 1st party that counts and Sony have the confidence of the PS community on that score.
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