Sony has announced the release of the rumoured PS3 Slim. They have completely redesigned the internal architecture to reduce the size to about 1/3. The processor also improved to 45nm as opposed to the old 60nm. Features are the same as the last verion of PS3 except that it comes with 120gb HDD. Hard drive upgrades are now easier since it has been moved to the front. Even with the new release, Playstation 2 games are still unplayable.It will be released on September 1 and is priced at $299.