The system will use a supercharged PC architecture with an 8-core AMD x86 CPU, allegedly making it very easy to develop for. No word on the specifics of the architecture as yet.
There's also a high-end PC GPU boasting just under 2 teraflops of computational power, 8GB of unified high speed GDDR5 memory for use by both the CPU and GPU with 176GB/s of memory bandwidth, and large local hard-drive storage (size not revealed).
A secondary custom chip allows for background downloading whilst playing games (and even when the console is powered down). Games will also be playable as they are being downloaded.
The Playstation button on the controller allows for instant and indefinite sleep/resume of not just the game, but the entire system. This essentially eliminates console boot time and allows for an "instant on" gaming experience.
The PS4 doesn't just learn your interests, it can even pre-download games it expects you to buy from the PlayStation Store - allowing for instant play when you do buy it
more here
http://www.darkhorizons.com/news/26288/sony-unveils-playstation-4-details

paving and tarring companies are screaming for delight at the amount of ground being broken here.