Sony reveals PlayStation 3

Out of the box, PlayStation 3 will have the capability to support seven Bluetooth controllers, which will be usable for nearly 24 hours before recharging is needed, according to GameSpot. A typical boomerang-shaped controller will have six USB slots for peripherals, as well as Wi-Fi connectivity to the PSP, which will be usable as a remote screen or controller

Sony said the new console will have wireless controllers, a detachable 2.5-inch hard drive, slots for compact flash and Sony's memory stick media, and a built-in Wi-Fi connection for linking up to the PlayStation Portable. Click here for a full list of specs.

At the core of Sony's new game machine is the Cell chip. With a radical new design that includes nine separate processors, with one controlling "brain" that will divvy up tasks among the other eight, the Cell has been touted by developers as a middle ground between the traditionally separate graphics processors and central processors, with advantages over both.

The PlayStation 3 will come in white, silver and black. The console is built around a new chip touted as being at least as fast as those in the most powerful PCs on the market today. The chip, called Cell, was developed by IBM and Toshiba.