See Playstation 3
Widely hyped, though nothing is known about it. Due to the fact that somehow the PS2 sold over 100 million units, the PS3 will be widely successfully regardless of it's preformance.
The Cell processor has been said to have 7 cores, each running at 3.2 Ghz. Many developers have said that the Cell is much to complex to program for, and thus favor the Xbox 360 over the PS3.
The RSX "Reality Synthesizer" is another widely hyped aspect of the PS3 by Sony fanboys. Relatively nothing is known about it, except for the fact that it will emulate reality... clearly.
The Blu-Ray player in the PS3 is not neccessarily needed, as almost all next-generation video games will not go past 10 GB as stated by developers.
Person 1: "Did you get the PS3?"
Person 2: "I'm not sure. It's hella expensive, and doesn't look that much better than the Xbox 360."
Sony fanboy: "OMgZ!1!!!1!1 Noooo! HERETIC!"
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