The system will represent a marked increase in price when it comes to video game systems, but it will also offer unrivaled features that cannot be found in any console to date. The suggested retail price for North America has been set at roughly $499, an almost twofold increase on it's release price for the Playstation 2. The price is justified, however, by the host of options that the Playstation 3 will incorporate. Just like the Playstation 2, the Playstation 3 will be backwards compatible with all prior Playstation products. This means that you can play your classic Playstation 1 and 2 games on the system without making any modifications. The Central Processing Unit of the Playstation 3 will run at a speed of 3.2 gigahertz, which is a truly powerful number. The 3.2 gigahertz offers roughly the same performance as current top-of-the-line computers, and 512 megabytes of RAM ensures that the memory capabilities of the Playstation 3 match up with its processing power. Several different types of media will be usable on the PS3, including blu-ray discs, DVDs, CDs, and SACDs. The system will also come equipped with a hard drive in which you can store your saved games to a much higher capability than by the memory cards associated with the Playstation 2. PS3 will also represent Sony's first console that features built-in internet connectivity. Connecting via a 1-gigabit Ethernet port, the PS3 is also compatible with Bluetooth technologies, as well as 802.11b/g wireless standards.

The controllers on the PS3 offer numerous similarities to those found in the PS2. The controller itself is almost identical to the PS2 controller, save a reflective metal coloring and LEDs which help with the wireless functionality of the controller. That is another key part of the PS3 - all of the controllers that will be offered shall be wirelessly connected. This saves a lot of headache when it comes to keeping cords from getting tangled and finding optimum places to play multiplayer games in a cramped room.

The Playstation 3 already has numerous titles under development which will be of much desire to the video gaming crowd; additional installments to popular game series' such as Resident Evil, Final Fantasy, and the ever-so-controversial Grand Theft Auto are in the works, ensuring that Sony will satisfy its fan base when this console is released. Will the PS3 live up to the hype? At a $499 price tag, its tough to tell, but the features offered by this new console should keep gamers chomping at the bit for this system.