Initial information suggests that the hardware runs on AMD's Trinity APUs. Apparently, the updated kit is delivered in a common case housing the modified A10 processor. A third and final version of the development kit is expected to be available in January.
There were no details about the APU itself, but VG247 mentioned that the systems come with either 8 GB or 16 GB of system memory. The final console will get a Blu-ray drive and a standard 256 GB of storage, which, if correct, would clearly point toward a solid state drive. The direction Sony is taking appears to be clearly toward a much more affordable console at launch. The PS3, which was priced at $599 for the 60 GB version at launch in 2006, had an estimated production cost of more than $900 at the time.
There was no information on a potential availability. However, a demonstration at E3 2013 and a released just in time for Christmas 2013 seem very likely at this time.