Sorry, but I can't find a single comment I agree with except for the release date. First off, The PS3 isn't at full power yet. Very close, but isn't there yet. So since 2012 is about 2 years away now, and we would assume it would come out late in the year for Christmas and so on meaning about 2 years and 11 months. That said, since the PS3 is only now coming close to it's full potential. We won't need a graphics upgrade to run games for the next 4 years. Meaning that a 2012 release seems very, very, very unnecessary.
In addition to that, blu-ray was already almost "Too much" For the current generation of games. I can only think of three games that used more then 10GB of storage, and although they are some of the best on the console. HVD (Holographic Video Disc) will probably not be release commercially. Mainly because it was made for the U.S. Military and scientists. So blu-ray should be good enough for the next gen.
The only thing I hope from Sony is the following...
1: Their new console isn't marketed to casual gamers.
2: They use 7 direct cores instead of 7 split cores will one direct head.
3: They use a better GPU.
Anyway, That's my take on it.