This is from a portion of a Gamasutra interview with Time Crisis 4 producer Teruaki Minami…
"Did you have to design it differently to work with a high definition TV set, as opposed to a standard definition TV set?
For the Guncon 1 and 2, those controllers are capturing the flashes from the standard definition TV, however, that method is not compatible with the latest high definition plasma and LCD monitors. So that is one of the reasons that we had to create a new Guncon. And, do work with all different kinds of monitors, we decided to introduce new LED markers - basically for Guncon 3 there is a little camera here [indicates the barrel of the gun] which is catching the position of the LED markers.
Is it similar to the sensor bar from the Wii?
Basically it is the same, but Guncon 3's LED markers are actually much more accurate. Much better than Nintendo Wii's controller. In the Wii, there are only two LED points, but for the Guncon 3 there are six LED points, so it is more accurate than the Wii. The PlayStation 3 will be able to recognize the tilt of the Guncon 3, its distance from the monitor, and these things cannot be done with the Wii system.
So the gun has SIXAXIS capabilities as well?
Yes."