A few thought of mine on this, i think this will be mean no PS3 price drop unless this sells at close to cost say £300-350 mark any less they start eating it to the profits made from the PS3 at its current RRP. Maybe there will be a data option eg take out a 18-24M 3Gig 3G contract for say £15 a month and get this half price or something.
Power wise its seems a bit of a beast the single core GPU is 2x the IP4s current one and as its quad core its 8x that of the IP4. The IP5 may use a single or dual version of GPU and the CPU so it will still be quite a bit behind the NGP, depending of course on clock speeds. Judging that the iphone still has to run its phone part all the time which takes resouces up a fair bit the gap prob will be even larger.
Memory for the device is supposed to be between 512 and 1GB of ram for the system and 128Mb dedicated GPU ram thats pretty good judging the ps3 is 256x2 for both the GPU and system.
Looking at the GPS, Move sensors, 3g etc it could use most apps that modern phones use, perhaps the PS suite will also sell cheap apps much like Android, iOS etc.
Screen looks awesome as does the idea of a rear touch screen but you would want to keep it in case to stop screen damage, but you would need to take it out of the case to use the rear touch pad.
Battery life is rumured to be between 4-5 hours, no confirmation as yet but that seems along the lines of how many hours my iphone/droid phones last when playing games solidly.
This time i think sony have catered for both core and casual areas, simple cheap touch games can be done as can huge AAA games, before the PSP wasnt that good for casual gamers compared to an itouch or DS device.
If its going to use DD is there onboard storage? Not seen it mentioned or does it just use an SD card a bit like what its retail games come on?
Anyway first impressions sound good, roll on E3 and GDC for more info.