Some specs:
Quad Core 1ghz cortex A9
Quad Core PowerVR SGX543MP4+ GPU
3g+wifi
5-inch OLED display with 960 x 544 resolution. That's 4x a PSP.
no UMD uses flash cards (looks similar to SD cards)
dual analog sticks that is a micro version of the dual shock controller for PS3 (you can push it down)
touch screen and touch controls in the back
powerful cpu almost like ps3
gyroscope + accelerometer
front and rear cameras
grabeh ang features pila kaha ka hours ang battery ani. hehe
For more news and coverage head on over to Engadget's liveblog in Tokyo.
Live from Sony's Tokyo event -- Engadget
.