Honestly...
I don't think that there will be a 5 hour long conference.
I think the conference itself will be 2 hours long, as always. Possibly another half hour to talk about everything that's happened/going to happen with PSN.
Sony ordered out a stadium. That's a lot of ground to cover. I think there will be booths there full of loads of Sony games. The 2 hours of conference, then people will be led to the games and will get 3 hours to play whatever there is there.