Never thought I'd agree with Jeff about anything Sony related since he tends to discount anything that they have a hand in, but he's completely right about the NGP.
You have to look at history, particularly how Sony approaches things. Sony ALWAYS over promises and under delivers, at least when it comes to their video game division.
All of this talk about games that connect to each other, where you can continue playing your game on the go, constant connectivity...pipe dreams, at least if you look at their history. Let's think about the PS3. PSN has poor social networking aspects. No cross game chat, poor UI etc. Their connectivity issues are horrible, 4 years post launch, and it still takes you HOURS to download a movie. Then there's PS Home (nuff said), or the fact that it can take upwards of 5 minutes to sync up trophies to compare with friends. For crying out loud, even your personal avatar quote has a ridiculously small character limit.
Point being, if they can't get their online network on their flagship platform online services to be up to our expectations (which are currently being executed just fine on competing platforms), then why are we holding out hope that they'll be able to get all of this together for this new platform which is BASED on their current tech???
Then, think about their approach to sales. They launch items without software, hope that it catches on, then make a mad dash to create software to support the platform, which results in a year of dead air, which turns people off from buying the hardware in the first place.
I'd love to be as enthusiastic as Garnett about the NGP, but I truly believe its another case of the boy who cried wolf. How many times will Sony be able to claim that they "get it" and have people believe them, only to be disappointed (before launch) with the actuality of the device.
I'm excited about the NGP...of late 2012 or early 2013, which will probably be when the games start coming out, the system drops to under $250 and they add half of the features that people expected it to have in the first place. As it stands though, come launch, the NGP will simply be a $349 - $399 PSP, with better graphics, a second analog stick and a monthly subscription rate for poor online service.
Sad that the techy in me will be picking it up day one regardless.