I'd be surprised if the actual PRESS conference was 5 hours; I mean, can you imagine how bored ANY downtime would be 3 hours or so in? 

I expect that they mean there are things planned for directely after the conference itself; maybe hands on time with some of the newly announced IP's or with the NGP?

Press conference = 2 hours, 3 hours hands on time followed by a party hosted by Sony = LOTS of happy (&tired!) reporters.

Son of a bitch!  That means it's starting at 7pm here, and I'll be getting off of work at 8pm.  I'll have to drive home mid-conference.  Lame.

Only if it was 5PM GMT..... But will begin 01AM. I'm in GMT-3 só i may be able to watch 1 or 2 hours.

Even if the actual show is 2 or 3h, I hope that it's 17h-20h, not 19h-22h.

I want to watch the whole thing lol

exactly, either this isn't quite what it seems or sony is going to have a really boring over-fluffed presentation.

4 hour intro movie Kojima's new game confirmed!

I'll watch the entire thing. I probably will not have anything better to do anyways.

I bet they split it up into a pre-show of some sort and then the main show where all the big games are shown is 2 or 2.5 hours tops. There's just no way they will have a continous show for 5 hours, people wouldnt be able to stay awake.

I am amazed the company with the most boring presentation skills is doing the longest one, really deadly combo. Regardless if it be 1 hour or 5 hours. I will watch the whole thing. 

No, this totally makes sense, Its basically 2 conferences put into 1.

1st 2 1/2 Hours, PS3, PSN, NGP, all TEH GAYUMS, Financial Reports, statistics, etc etc.

2nd 2 1/2 Hours:

Think about it ;)