Thes are just rumors based on things like patents taken out on certain technologies and such:

Main Processor: code-named “Cell” produced by IBM on 0.10-micron SOI process.
Clock Speed: 3 GHz
Floating-Point Performance: 196 GFLOPS
Operations per Second: 2 Trillion
3D Geometric Transformations: 2 Billion Polygons per Second
New processor design specifically for broadband communication generation.

System Memory: 512MB
System Memory Bandwidth: 24 GB/sec

Secondary Processor: Emotion Engine on 0.13-micron process (backward compatible with PS2)
Clock Speed: 300 MHz or 375 MHz (selectable)

GS3 (Graphics Synthesizer 3)
Clock Speed: 750 MHz
Embedded DRAM: 32MB
Screen Resolution: variable from 320x224 to 1920x1080
Fillrate: 24 Billion Pixels per Second

Sound: SPU3 + CPU
Number of Voices: 256 ADPCM channels + software

DVD-ROM
Built-in Broadband Ethernet Port
120GB Hard Disk Drive

Japanese Release Date: Q4 2004
US Release Date: Q3 2005

Source: http://www.pcvsconsole.com/hank/answer/206.html

As long as it has backward compatibilty I don't give a fuck.

I mean that in a good way.

So does this mean they are copying XBox and will have an on board harddrive now?

I don't think they're copying it... if reports about the XBox 2 are true then they've straight up stolen it!

:lol

LOL good point.

That rumor about XBox 2 just CAN'T be true. MS is big on pushing Live and without the harddrive.. no XBox Live.

Looks damn good, hopefully I'll be able to afford one when they drop.:lol