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Some latest news on the PS3 front :- (if you already know this, skip it)

Sony has demonstrated an online service called "PlayStation Network" to support its upcoming PlayStation3 (PS3) video game console.

The "PlayStation Network" uses a navigation system already available on Sony's hand held game player, the PlayStation Portable (PSP). The new service will offer multiplayer gaming, chat, voice or video communication, downloadable gaming content like weapons or maps, and the ability to shop at the online PlayStation Store.

The online PlayStation Store will allow users to download game demos, game-related content, and downloadable casual games, including titles developed by Sony Computer Entertainment World Wide Studios exclusively for download and play only on PS3.

While online play, chat, and other basic features will be offered absolutely free from day one, the users will have to pay to download some content. The downloadable games provided by Sony's units will cost less than $15 at launch.

Moreover, users will be able to create a unique and secure PlayStation profile to communicate with other PS3 users, and use an electronic wallet to buy online content. Shoppers will be able to add PlayStation Store funds from their credit cards or gift card-like PS3 Cards to their accounts.

In addition, gamers will be able to browse the Web, store and view pictures and video, as well as download and listen to music on the console. The Web browser will be included with the PS3, and will be free of charge.