Although the portable console is still a year away from commercialization, Sony has decided to leak out a few details on their upcoming PSP hand-held platform that will directly compete with Nintendo's very successful Gameboy franchise.

Sony said the PSP is scheduled to debut in the fourth quarter of 2004 and will employ "the latest and the most cutting-edge technologies" including two powerful micro-processors and an advanced 3D-effect graphics engine, said to process data ten times faster than the original PS-One.

Perhaps, the most exciting news come in the form of 802.11b wireless networking implementation that will ship as a standard feature out of the box (wireless local or online multiplayer comes into mind).

While we are at it, ZDNet recently posted an update on Gaming device start-up Tapwave, you might remember a story we posted months ago, these guys are working on a PDA that will double as a full gaming platform.