Here we go. At 6pm Eastern Time (11pm UK) tonight Sony Computer Entertainment will kick off its PlayStation Meeting event in New York City, where it is certain to announce the next generation home PlayStation console.
In preparation for the big reveal, we've prepared a catch up of all the known technical details, controller specs and key games expected to appear on the next-generation PlayStation.
CVG will be reporting live - with video - from Sony's PlayStation Meeting from 6pm Eastern Time (11pm UK) tonight via our live blog.
Codenamed 'Orbis' back in 2010, the later iteration of Sony's next-gen devkits offered 4GB of GDDR5 RAM, which is capable of moving data at a blistering 176 gigabytes per second. On the graphics front, Sony is utilising AMD's 'R10XX' architecture, alongside its codenamed 'Liverpool' system-on-chip.
In addition, the new PlayStation is said to feature - at devkit level at least - a drive for increased capacity Blu-ray discs, multiple USBs, Ethernet, HDMI, Optical ports and a 160GB HDD.
CVG sources claim that each console will ship with the next-gen PlayStation Eye camera which is said to contain a pair of wide-angle cameras that will pick up signals from the new DualShock 4 controllers.
Sony has patented various used games circumventions in the past 18 months, though it's not yet clear if it will enact a move to combat pre-owned game usage.
The platform holder is unlikely to price or date its machine before production starts - it will want to gauge public reaction before making decisions even internally. However, Japanese newspaper Asahi Shimbun claimed earlier this month that Sony has internally set the PS4 price above 40,000 Yen - a figure that would represent about $430/£275 at current exchange rates.
PS4 will almost certainly release at the end of 2013 in most territories, though an Edge report has claimed the console won't launch in Europe until after Christmas 2013. Sony Europe CEO Jim Ryan has previously claimed such a decision would not at all be Sony's ambitions.
The PlayStation 4 controller is set to combine motion control, touch and traditional analogue buttons to offer a fresh spin on a more familiar interface.
At first glance the face buttons on the leaked prototype controller (pictured right) seem relatively unchanged. Look closer though, and you'll notice that the PS4 d-pad has been redesigned to more closely resemble the PS Vita's (often the preferred choice within core gamer circles).
PlayStation's trademark twin anolog sticks have undergone a redesign from its predecessor, now employing concave indents that provide enhanced grip. From what one games developer has heard, this analogue redesign is not just for the dev kits - it will feature on all commercial pads.
Sony has also moved the sticks slightly further apart, but has resisted calls to switch the positions of the d-pad and analogue sticks.
They're not visible in the leaked pic, but a report last week claimed that the L2 and R2 shoulder buttons have been remodelled. A development source has confirmed to CVG that the pictured pad also uses concave shoulder buttons for enhanced grip.
Three additional buttons (Start, Select and the previously rumoured 'Share' button) are nowhere to be found in the picture. However, CVG understands that the touch-pad itself is clickable, and it appears that two small buttons are embedded either side of the new touch pad.
The grill beneath the touch pad houses an internal speaker system, while at the base there is a headphone jack input.
An illuminated panel along the top can change colour and behaves just like a Move controller, a development source has told CVG. Combined with the same gyro and velocity sensors introduced with the PlayStation 3's Sixaxis, the PS4 pad is said to be an "enhanced motion control device".
Each console will ship with the next-gen PlayStation Eye camera, which at a very basic level would enable Wii-style pointer functionality without sacrificing the mainstay controller features the core has come to expect.
If it works, then the controller could be ideal for navigation, while FPS twin-stick controls might finally make way for mouse-like twitch aiming - and all without giving up the dozens of buttons and triggers that support the core gaming experience.
Further reading: Analysis: The PS4 controller
You need only glance at PlayStation's barren July-to-December release schedule for evidence that new first-party Sony games are an algebraic certainty for the PlayStation Meeting.
LittleBigPlanet dev Media Molecule recently hinted that its new game will be revealed soon, having previously confirmed that it's working on an "unannounced R&D project" which it hopes will "completely reimagine how people can create". However, CVG understands it is unlikely the team will go out on stage in New York to show a new project.
Next Up, Last Guardian director Fumito Ueda is saying on his personal website that people should "keep an eye out for new announcements" and Quantic Dream co-CEO Guillaume de Fondaumière has confirmed he is in New York for the Meeting.
Perhaps the most likely candidate to headline Sony's PS4 game showcase is the same group that rocked the industry during Sony's PS3 reveal - Dutch studio Guerrilla Games, creator of the Killzone series.
Back in November 2011 Edge reported that the "bulk" of Guerrilla Games' staff were hard at work on a fourth instalment of Killzone, and studio recruiter Adrian Smith stated that Guerrilla has "got to continue the Killzone franchise."
Killzone 4 was first tipped to be in development for Sony's next-gen platform when a job ad for a 'Netherlands game studio' - which appeared likely to be Guerrilla - revealed that it was "now working exclusively with an industry leader, on next gen technologies and with major IPs in the pipeline."
The newly acquired InFamous developer Sucker Punch is also a next-gen possibility, having not released a full game since 2011, while no Sony hardware announce is complete without a new Gran Turismo.
CVG understands there is also strong interest from third-party publishers to debut their PS4 titles at today's event, but it's unclear if Sony will grant them stage space in the allotted time.