Live streaming video by Ustream Today, at 4pm, SCE Japan is holding a press conference and there are rumblings that some exciting news is about to be announced. We have absolutely no specifics on what will be announced, but I think this might be worth watching anyway!
Of course it's easy to jump to big (possibly) stupid conclusions -- The Last Guardian for the PS4 is my big stupid conclusion of choice -- but I'm guessing the reality may be a little bit less exciting. The official word from Sony is that the press conference is specifically tailored for "announcements of interest to Japanese gamers" so it might be useful for us to temper our expectations just a little.
Regardless, you can watch it here and, if you choose to do so: get hype.
In the meantime, feel free to discuss possibilities in the comments below.