I saw this for the first time today on the front cover of T3 magazine, I did not have time to read through it but here is what I cold find and seeing as there is no other thread on it I thought here goes:

According to the report, a source has stated the machine will be a smaller and lighter model but still contain Blu-ray capabilities. The report also suggests the console may also feature a 160GB hard-drive.

The rumour mill has gone into overdrive this week, with various reports claiming new skus are on the way, possibly to be announced this month at GDC 2008. While a PS3 with bigger hard-drive is certainly a possibility, a slimmer hardware offering seems a little far-fetched this early in the products life-cycle.

Sony responded to GamesIndustry.biz's enquiries with an expected "we don't comment on rumour or speculation."

Sony has a history of offering slimmer, more compact consoles once the established unit has begun to prove profitable and manufacturing costs have been reduced.

The PSP Slim & Lite was introduced last year, and both the PS2 and original PlayStation received compact makeovers during their life-cycles.

http://uk.gizmodo.com/2008/02/04/ps3_slim_lite_rumoured.html

http://www.t3.com/news/sony-playstation3-slim-and-lite?=35165#

I can't imagine thats a final design just a mock up with ideas from the PS2 slim with the PS3 wave slapped on.  I think we all know a slimmmed down PS3 is on the way but this year?

Those pictures are completely fake, they are just mock-ups made by someone on the internet

it looks like pswii no

 IT does the optical drive is like the size and shape of the wii. 

Iwas going to say the same thing bout lookin like a Wii.

Looks rather ugly to me. I actually like the design of the "fat" model better.

Man, so many rehashed threads on the ps3. Ps3 slim will be years away... Like in 5 yrs time :P I always prefer the originals :D

^really... the PS2 was an ugly beast, the PS2 slim looks really nice in comparison.

Or what about the DS - DSlite?

or the GBA - GBA:SP / Micro


I will agree with the PS1 - PSone, I thought the original looked better, though maybe not when you had to turn it upside down to use it.

And yes it looks like a Wii (though that bit is clearly still bigger than the whole Wii) with half a PS3 added on. 

that looks ugly

Looks like a Wii with a shield.