Sadly, I believe that the PS4 will be Sony's demise if they do not change their business model and marketing strategy.

As seen through the press conference, Sony is focusing on the core gamer, much like the Vita, and it will turn against them. Furthermore, the system will be over 40 000 yen, judging by Japanese reports. Consequently, the system will not be competitively priced for the mass market where Nintendo and Microsoft offerings will be available at a cheaper price. In addition, next-generation games will also be available on the PS3 (Watch Dogs, Destiny, etc) - Sony has failed to convey the message as to why the consumer must jump on the next generation hardware, the PS4, if it offers nothing more than better graphics and social interactions, doing so at a premium price - it needs that 'I have to have it feature' - much like the Kinect and the Wii remote did to their respected consoles.

Nonetheless, it's too early to judge as we only know a small fraction of the bigger picture. Sony needs to bring their 'A' game, and that goes for Nintendo and Microsoft as well for E3. It will be very interesting.

On a side note, Sony's shareholders have reacted negatively to the PS4 reveal, down by 1.8% in Japan - Nintendo up by 1%.

You guys are insane, the presentation was superb, like no one before it.
The system is amazing, made me feel like a kid again.
The games look incredible, Killzone4 looks light-years better than Killzone3, wich looked insanelly good.
The cloud gaming is HUGE. I own a Vita, can´t wait to play PS4 games in my bedroom, before going to sleep, AMAZING!!!
The share thing and the automatic demo thing is crazy, the controller looks great and every developer seems happy that the archtecture is easy and simple this time.
It is going yo be HUGE!

Guys, is it a thread here with a brief re-cup of what was shown on the conference?
No emotions, just facts?

So, I've had time to calm down and re-assess my opinion after last night.

I actually really loved the presentation.

I stand by the fact that the single most important thing they did last night was getting Mark Cerny on stage talking about the poor choice of cell architecture with PS3 and explaining the architecture of the PS4. Here's a man who's worked on countless major games in PlayStation's ecosystem; a man at the centre of the ICE team who pushed graphics to their limits on the PS3, front and centre of the PS4. No more Japanese engineers building brilliant but horrific to use systems anymore; Sony are adapting, and that was so important to show. So kudos for that.

Then the rest of the conference. I admit, it did have some low points, but they got across what was most important: games. I was expecting Kaz Hirai to burst out from backstage, sweating, chanting "DEVELOPERS".

What they got across at this initial stage is the reason I am such a big fan of Sony. Variety. From their own titles we saw, the divide was obvious: new IP's, worlds apart; while pre-existing IP's were given a whole new direction.

I mean shit, Knack looked like an absolutely fantastic PS2-era action-platformer style adventure. Exactly my kind of thing. And it was the first bloody game they showed for the console! Mix that in with Evolution's new title and already the console is getting off the ground with new stuff. Killzone looked absolutely beautiful. No two ways about it. But it also looked nothing like Killzone - which, for me, was a very good think. This clean; colourful look to show of the console was just fantastic. Infamous: Second Son was just the icing on the cake for me.

Then the third parties came, bringing more variety. Eastern titles from Capcom & promises from Square-Enix (which is the best you'll get from them these days). Big name western stuff from Ubisoft & Activision.

But the thing I took away from it all, more than anything, was games. Yes, there was time spend faffing around with the move controller; showing me how to share a youtube video etc. More than anything, though, it was games. And games are why I love this industry so much, so in the end, I cannot fault Sony for their presentation at all. It could've been leaner & quicker, but for me it couldn't have been better.

Man i think some of you really missed the boat on this one.  

The conference was just a sneak peak, not a marketing blitz E3 extraveganza where they were supposed to convince anyone of anything.  None of the games even had true trailers for them.

What they did is give you tiny nibble and, and now u all want more.