Now another perk of the new console has emerged -- an improved CPU.  According to a video posted on Sony's U.S. website, the new console will feature a 45 nm updated version of the Cell processor based on IBM's Power architecture, jointly developed by IBM, Sony, and Toshiba.  The new processor will be cooler and use less power, and is also cheaper to make than the 65 nm processor found in the old PS3. 

Sony's primary high-graphics competitor, Microsoft, still uses 65 nm GPUs.  Heat has proven to be a major concern for the next generation consoles -- Microsoft started on a 90 nm process and suffered from many console failures due to the larger chip's heat.

Sony is very pleased with their new processor.  States President and CEO Jack Tretton, CEO of Sony Computer Entertainment of America, "We're extremely pleased that we've been able to meet production efficiencies that have allowed us pass those savings on to customers."

The GPU on the PS3 has not been officially announced, except for that it will be made by NVIDIA.  For the sake of compatibility, it will likely be similar or identical to the RSX GPU in the current PS3.

The new console will launch on September 1 in the U.S. and will retail for $299.