main points:

*Sony is aiming for a spring 2006 release of PlayStation3 in the United 
States
*the Nvidia PlayStation3 RSX GPU is still in development, so improvements to 
the graphics processor are possible
*PlayStation3 will have internet access and communications capabilities from 
day one





from GameSpot:
"As SCE president Ken Kutaragi said in a recent interview, Chatani said he 
expects the PS3 to be an "entertainment machine," though he emphasized, 
"make no mistake--games will be the killer app for the PlayStation 3." 
Chatani said that he also plans to give the console powerful Internet-based 
communication functions to encourage owners to use it daily."

"Chatani commented that the PS3 is still at a prototype stage and has room 
for improvement in graphics and physics. Nvidia CFO Marv Burkett also 
revealed last week that the RSX graphics chip for the PS3 is also still 
under development and has yet to be finalized. The tech demos running at E3 
last month were shown using current-generation PC technology with similar 
capabilities to the RSX, which is rumored to be a combination of a GeForce 
6800 Ultra SLI GPU and/or a next-gen desktop graphics chip from Nvidia, 
which codesigned the RSX."

"Chatani also said the PlayStation 3 will follow a similar release schedule 
as the PSP, hinting it may be playable at the Tokyo Game Show this fall. 
Sony showed trailers of PSP gameplay at E3 in May 2004, and then it 
presented the machine in playable form at TGS the following September, 
before its release on December 12. He confirmed that Sony is still aiming 
for a spring 2006 US launch for the PS3, with a possible simultaneous launch 
in Japan. The console would debut just under six years after the October 
2000 US launch of the PlayStation 2 (March 2000 in Japan) and 11 years after 
the original PlayStation hit the North American continent in 1995 (December 
1994 in Japan)"



http://www.gamespot.com/news/2005/06/02/news_6126832.html