As expected, there's 16GB Flash memory, expandable by memory stick, no UMD drive and inbuilt Bluetooth. However, Sony says it will not replace the PSP 3000 and that games will still be available on the format. All games will, however, be available as a download for both devices.
On top of the basics, Sony has also fleshed out plans to use new MediaGo software to make music and movie transfer easier. Music playlists will now be available, making the whole thing a more viable iPod alternative to boot.
Price wise it's going to cost €249, so roughly £240 when it lands on 1 October. We're going hands–on later today, so stay tuned for pics and video.