Japanese media reported on May 6th that the PS3 console is in development. The goal is to make new processor technology, called "grid" about 200x faster than current console technology. This is almost achieving their original goal of making the PS3 1000(!) times faster than the PS2. This goal was publicly set by Mr Okamoto, the Senior VP and Chief Technical Officer of Sony Computer Entertainment, at the 2002 Game Developers Conference in San Jose, California. Full story over at PSR!