Just watched the stream then and thought it was great. The PS4 is a powerhouse that has been built for the devs its clear this gen Sony is about the games they have picked up on the mistakes of the past and have built a machine that looks like its going 2 be easy 2 program heeelllllooooo epic 3rd party support! Destiny looks amazing and so does Killzone! The icing on the cake for me was Blizzard......................BLIZZZZZZAAAARRRRDDDDD! Diablo F%$king 3!!!!!!!!! I cant believe Blizzard and Sony have teamed up! I have wanted this for YEARS!!!! Its a great time 2 be a gamer regardless of what machine your gaming on! I cant wait 2 see whats in store for E3 and pax.

If you like the PS3 there is absolutely no reason for you not to like the PS4 and everything it will bring.

I personally wasn't impressed at all, but Watch Dogs looks fucking incredible.

How much red ink do you want Sony to bleed here?  That is the issue with the $400 price point.  And when I said $500, I am speaker the gamer's system, that is really what would be.  They could have a scaled down version hitting $400.  And I say this excluding what Microsoft does.

In regards for "a name for themselves for free online play", I discount that with the rolling out of Playstation PLus.  Do you think Sony doesn't want to get extra coin from offering online features?  Considering what they are offering, why would you be surprised if they charge for it?  They are seeking to do it better, with everything you get in PS+.  I would expect, for the annual subscription fee (look for it to be less than what XBox Live is), look for them to also include access to the entire PS1, PS2, and PS3 library with the subscription, via streaming the way Gakkai (however it is spelled) is done.  It is moving up the value chain, adding more, pricing it cheaper, and getting the ongoing revenue.  Considering how much you see the Playstation fan camp talking about how much of a value Playstation Plus is, beefing it up even further is going to be spun as an even larger bargin.  And Sony will likely have a case to argue it.

Pretty much, if Sony was really opposed to charging people additional fees on top of what they have now (purchasing the system and content) they would not of rolled out Playstaion Plus.

The consencus seems to be a "meh".

Seriously though if they just showed the console itself the attitude would be totally different. People just want something tangible. Its symbolic and shows they have at least something final and ready.

Meh regarding the console or the presentation?  I don't see meh regarding the console, which the next Microsoft console is likely going to be very close to also, and pretty much outclasses the Wii U.  I see concerns over the price point on it, more than anything else.  And they showed the controller.  Exactly what does showing the device you put the disk into gain you?  This is the announcement presentation, and laid down the basics.  It is now stay tuned for the details.

Presentation I meant.

Rest, I quote kotaku:

"Not having the console at the event doesn't matter. When you get right down to it, the most important things are the games and the experiences the PS4 will offer. But yet, it does matter. It matters very much.

This is a console reveal. You need to show the console. It's a psychological thing: We need to see the box that will power the games and experiences the PS4 offers. Otherwise, the PS4 will feel incredibly abstract. It won't feel real.

Worse yet, it makes it feel like there was no payoff to the PS4 reveal. No, here's the new controller, here are the new cool games, and finally, here is the machine that will make it all happen. Bam, bam, bam. We're one bam too short, and that's unsatisfying. The entire evening never built to a climax. It just ended, sorely missing that one last bam."

In the end, it woudl have tied it all together, and the fans would have preferred to see it, you gotta admit.

if you do the total reveal now, including release date, price point and so on, you have no way to generate future buzz.  Microsoft comes in and steals all the thunder.  If Microsoft did a reveal early, then Sony could do one now.  As of now, there is fodder to talk about.  This is a campaign, not a one shot, so you do enough out there to keep the conversation going, which is what they did.  The LEAST interesting part is the look of the console.

A man after my own heart--until then I'm pretty ambivalent.

I didnt say anything about price and release date, just show something tangible. Sorry but the general sentiments that this presentation was "meh" is largely due to no tangible console at a console reveal. Im just reporting what im seeing.

next gen. will blow our minds, and i can't wait for E3, where more will be shown.

this is likely why most games released last yr., and Sly4 were never advertised. E3, PS4, PS3 to some extent, and Vita are going to be a show stopper.