According to some rumors circulating:

Sony admit that the pricing of the Sony Playstation4 was way to high and  too technical, which was factored into the high price.

So, alot of the extras that was in the playstation3 will be erased and the playstation 4 will be better version of the playstion 3, leaving out the extras that was never used, to make a more buget priced playstation4.

Sony are keeping the updates about the playstation4 a secret, I imagine, till they expect that gamers are fed up of the wii and xbox and there is demand for a new console.

If anyone hears any updates please post it in the review section