This is kind of interesting. I remember reading some stuff a little while ago about the PS3 chipset and how it won't be ready until 2005. Just thought I'd post some more info for ye game hungry news types.
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Sony's Kutaragi Talks About CELL - Musashi
By now you all probably have heard about the Sony/Toshiba/IBM project code-named 'CELL' which will be the heart of the PS3. In a recent interview with Nikkei Electronics Online, Ken Kutaragi (the 'father' of Sony's PlayStation) discussed the technology behind 'CELL' and how Sony plans on using the technology.

"SCE, IBM and Toshiba announced joint development of the next-generation microprocessor, CELL, in March 2001. At that time, we made it clear that SOI process of 0.1 micron and after will be used. There are two major changes between the announcement made this time and the previous one. Firstly, we have expanded the scope of cutting-edge process development to 0.05 micron. Secondly, Sony, our parent company, has joined the alliance. Sony's goal is to develop chips with an overwhelmingly high functionality using the world's number one process. By employing such chips, Sony will continue to introduce high functionality appliances into the market, which no others will be able to follow. In the future, Sony's appliance, be it a TV or a VCR, will use chips that resemble a huge 'media processor.'"