We've got many different possible paths to take. We've definitely got an AMD "Jaguar"-based CPU, which is in fact, a slightly modified version of the Bobcat, which has the following features:
1.6 ghz per core
512 Kbytes per core
.25 nm process, soon to be .20 nm
2 128-bit SIMD units per core
2 ALU units per core
2 Load-store Units per core
440 million transistors total
4 MB L2 cache
2.8 mm^2 per core, without cache
It is a multi-core, dual-issue, super-scalar, out-of-order processor. Which can issue out-of-order load-store instructions as well. It has a directly addressable L2 cache, 1/0th of which can be locked and programmer controlled. A Least Recently Used L2 cache program. Don't let its slow speed and size fool you! It can issue and retire 2 instructions per clock. It features 90% of the performance of AMD's K8 architecture (at similar clockspeed), despite its being 1/2 the size. Pretty remarkable. The Bobcat is the same - 90% of AMD's K8 (Athlon 64, Athlon 64 x2), although about 5/7ths the size in transistors. AMD classes it as an ultra-portable CPU - but it offers performance which is better then Athlon 64 and Athlon 64 x2. Which are larger.
It's extremely small - 2.8 mm^2 per core - the Jaguar core. How that tiny processor can even compete is remarkable. Virtually no heat dissiptation. Thus - the Playstation 4 will be small. It has 8 times the transistors that the Playstation 3's CPU does, and 4 times the transistors of Xbox 360's CPU - both of which are in-order and vastly simpler. I estimate that this CPU will be 15 times faster then the Playstation 3's and 5 times fasater then the Xbox 360's CPU. Not bad considering it runs at half the clockspeed, is very cheap, and is ultra portable.
As for the rest of the GPU - we're talking a built-in frame and z-buffer, via SRAM. That's excellent. A free 109 GB/s of memory bandwidth - cheap too. That's memory with non-destructive reads and writes, with no refresh. A free 109 GB/s of memory bandwidth, with free anti-aliasing.
What are some other possibilities? We can make the on-chip Vector Co-Processor for the Playstation 4 take many different forms. A massive SIMD array with little cache. Fully pipelined with no individual memory bus, or with a memory bus. I say we give it its own 8 MB L2 cache, connect it to the main CPU, and give it 10 128-bit SIMD FMADD pipelines. A write-gather pipe. That'd be something.
Thus we've got an extremely efficient, yet extremely powerful, CPU. It's almost like a star. I'll nickname its CPU - "The Sun".
Playstation 4 CPU - "The Sun"
600 million transistors
25 NM process
4 MB L2 cache total
An Out-of-order Load/Store unit (a world's first)
Micro-Op support - an enhanced x86 feature, load, execute, and stores with just 1 instruction
Super-scalar, multi-core, multi-processor design
2 Execution engines per core, Two instructions issued per clock
2 64-bit FP execution units - doubled for Playstation 4
Accurate branch predictor
Two branches predicted per clock
A limited number of branches within branches taken
Last Recently Used L2 cache scheme, with 10% of it directly addressable and lockable (techncially a world's 2nd, but actually 1st)
What's the result of all these optimizations you ask? At 1/3 the transistor count of the AMD 64 architecture, K8, it performs at 90% of its performance. How on earth did they achieve such extreme optimization?
Like I said - extremely efficient, extremely streamlined, yet extremely powerful.
Actually top of the line products in 2011 still perform quite nicely; and obviously aren't dinosaur parts.
In 2011 a recommended GPU for monster computers ($3000), would be a card like the 6990.
That part still edges out many GPU's these days.
Old CPU's are also very capable in games, especially if you are spending a lot of money at the time.
There is a reason Phenom's and Athlons are still being tossed in budget gaming rigs.
I play Ultra-HD Flight Simulater, i also have heavy duty film and video editing software (final cut pro HD studio's- it's outdated- because in 2012 apple introduced Final Cut X "a new package") I also have a few other big $$$ software on my computer... i love my NVIDIA graphics card. i also had to have an expensive processor for 3D graphics generation in Blender, and i use autocad for engineering purposes. i've filled up a Lacie 1TB external HDD with "raw" video footage and 3D movies i created in Blender. I need all the best of the best products to keep up w/ what all i do.