As you all know last night there was the e3 conference (for those that didn't know, now you know :P) Anyway, Sony showed its PS3 for the first time, and I like the way it looks, and I've scavanged around and found different places with different pictures, below are all the links.

Here's a great article that talks about what went on in the e3, and the specs that the ps3 will have :P gotta say the ps3 looks more impressive the the Xbox 360.
http://www.anandtech.com/tradeshows/showdoc.aspx?i=2417

Check this link to see the xbox 360 next to the ps3 Click Here

PICTURES

Key Features:

PS3's CPU
Cell Processor
Jointly developed by IBM, Sony Group and Toshiba Corporation.
Processor: 1x Cell processor running @ 3.2 Ghz (About 2.18 teraflops of overall performance)
Main RAM developed by Rambus Inc.
Main RAM: 256MB XDR main RAM @ 3.2 Ghz
Main RAM Bandwidth: 25.6GB/s
VRAM: 256MB of GDDR VRAM @ 700mhz
VRAM Bandwidth: 22.4GB/s
Cell Processor Explained: http://www.anandtech.com/cpuchipsets/showdoc.aspx?i=2379

PS3's Graphics Chip
RSX "Reality Synthesizer"
Co-developed by NVIDIA Corporation and SCEI.
GPU will be capable of 128bit pixel precision, 1080p resolution.
Graphics chip capable of 100 billion shader operations and 51 billion dot products per second.
RSX is more powerful than two GeForce 6800 Ultra video cards.

Media Format
Blu-Ray Discs
BD-ROM: Maximum storage capacity of 54 GB (dual layer)

AV Outputs
Supported Screen sizes: 480i, 480p, 720p, 1080i, 1080p
HDMI out x 2
AV Multi-Out x 1
Digital AudioOut (OPTICAL) x 1

Communication
Ethernet: (10BASE-T, 100BASE-TX, 1000BASE-T) x 3 (input x 1 + output x 2)
Wi-Fi: IEEE 802.11 b/g
Bluetooth: Bluetooth 2.0 (EDR)

Sound Support
Dolby 5.1, DTS, LPCM, etc. (Cell-based processing)

Supported Disc Media
Blu-ray Disc: BD-ROM, BD-Video, BD-ROM, BD-R, BD-RE
DVD: PS3DVD-ROM, PS2 DVD-ROM, DVD-Video, DVD-ROM, DVD-R, DVD-RW, DVD+R, DVD+RW
CD: PlayStation CD-ROM, CD-ROM, CD-DA, CD-DA (ROM), CD-R, CD-RW, SACD

Other Key Points:
The PS3 is backward-compatible to play PS2 and original Playstation games.
Epic Games' Tim Sweeney quoted that the PS3 was "easy to program for."
Supports up to 7 wireless controllers via Bluetooth wireless technology.
Slots for Memory Stick Duo, a SD slot, and a compact flash memory slot.
Features a detachable 2.5 inch HDD. HD size(s) currently unknown.
Multiple multimedia features including video chat, internet access, digital photo viewing.
Two HD outputs allow two side-by-side HDTVs to projecting video in a 32:9 extra-widescreen format.
Feature integration with the Sony PSP. (Remote Screens, and maybe extra controller?)

High Profile Games
Konami
Metal Gear Solid 4
Capcom
Devil May Cry 4
EA
Fight Night
Madden
Namco
Tekken 6
Polyphony Digital
Gran Turismo 5
Rockstar
Next-Gen Grand Theft Auto
SCEE
Next-Gen Killzone

Links:
http://media.ps3.ign.com/articles/614/614619/imgs_1.html
http://media.ps3.ign.com/media/741/741151/imgs_1.html
http://www.gamespot.com/ps3/index.html
http://us.news3.yimg.com/us.i2.yimg.com/p/ap/20050517/capt.ksd10105170114.video_game_expo_ksd101.jpg?x=380&y=297&sig=qeTvxuOICGgpIXTuQ_R2WQ--
http://www.imgmag.org/images/xain1z/Killzone_01.jpg
http://pwp.netcabo.pt/joaomgcd/KZ.jpg