In development since 2001 by Toshiba, Sony, & IBM. Toshiba president says, "It will change the world." Commercial production to begin next year. Sony comments that graphics workstations using the Cell could be available by winter.
LINK They're gonna have to get moving, considering new reports I read today in GI claim Xbox 2 is looking like it will be out by 2005 (I'll have more on that later), and many developers have dev kits already for Xbox 2. Anyways, as always news about the next generation proves to be as exciting as any generation before (more on that later). Gotta go play Suikoden 3...