I actually like it, kinda PS2 updated, so far I\'ve liked both the Xbox and PS3 can\'t wait for the Revolution.
Anyhoo, here be the specs
CPU
      Cell Processor
      PowerPC-base Core @3.2GHz
      1 VMX vector unit per core
      512KB L2 cache
      7 x SPE @3.2GHz
      7 x 128b 128 SIMD GPRs
      7 x 256KB SRAM for SPE
      * 1 of 8 SPEs reserved for
      redundancy
      total floating point
      performance: 218 GFLOPS
GPU
      RSX @550MHz
      1.8 TFLOPS floating point performance
      Full HD (up to 1080p) x 2 channels
      Multi-way programmable parallel floating point shader pipelines
Sound
      Dolby 5.1ch, DTS, LPCM, etc. (Cell- base processing) 
Memory
      256MB XDR Main RAM @3.2GHz 256MB GDDR3 VRAM @700MHz
System Bandwidth Main RAM 25.6GB/s
VRAM 22.4GB/s
RSX 20GB/s (write) + 15GB/s (read)
SB< 2.5GB/s (write) + 2.5GB/s (read) System Floating Point Performance
      2 TFLOPS
Storage
      Detachable 2.5" HDD slot x 1
I/O
      USB Front x 4, Rear x 2 (USB2.0)
      Memory Stick standard/Duo, PRO x 1
      SD standard/mini x 1
      CompactFlash (Type I, II) x 1 
Communication
      Ethernet (10BASE-T, 100BASE-TX, 1000BASE-T) x 3 (input x 1 + output x 2)
      Wi-Fi IEEE 802.11 b/g
      Bluetooth 2.0 (EDR)
      Controller
            Bluetooth (up to 7)
            USB 2.0 (wired)
            Wi-Fi (PSP)
            Network (over IP)
      AV Output
            Screen size: 480i, 480p, 720p, 1080i, 1080p
            HDMI: HDMI out x 2
            Analog: AV MULTI OUT x 1
            Digital audio: DIGITAL OUT (OPTICAL) x 1
            Disc Media
                  CD PlayStation CD-ROM, PlayStation 2 CD-ROM, CD-DA, CD-DA (ROM), CD-R, CD-RW, SACD, SACD Hybrid (CD layer), SACD HD, DualDisc, DualDisc (audio side), DualDisc (DVD side)
                  DVD: PlayStation 2 DVD-ROM, PlayStation 3 DVD-ROM, DVD-Video, DVD-ROM, DVD-R, DVD-RW, DVD+R, DVD+RW
                  Blu-ray Disc: PlayStation 3 BD-ROM, BD-Video, BD-ROM, BD-R, BD-RE.