The EyePad makes sense now
One bit of new during the announcement made sense of that Move-enabled tablet the Reg featured a few days back: 'Digital Clay'. During the PS4 presentation, the its 'Move' controller was used to 'sculpt' 3D models. Combined with Sony's 'EyePad' ( http://www.theregister.co.uk/2013/02/19/sony_patents_eyepad/ ) there is the makings of a capable content creation system. The obvious applications are for creating levels and avatars, but there are applications beyond gaming. For certain scales of models (human-sized, creatures, vehicles), using a TV with a 3D cursor and tablet could be very usable indeed.
The general consensus about the PS4's graphical prowess is that the games almost look like films, except that characters still move like video games (an issue with the game engines used, I assume)... The rendering of human heads looks very impressive, as did a Havok physics scene with a million objects.
And it turns out that Bungie's next game, 'Destiny', is everything I hoped it would be - a blend of Elite, Halo, Planetside, Cowboy Bebop, Iain M. Banks, Borderlands and Star Wars Galaxies. Being produced for current and next gen consoles, with intention of a PC version.