With microsofts awesome E3 reveal and care taken to address consumers concerns they have convinced me to buy their offline product, the Playstation 4.
I wasn't even planning on buying a console but they got me looking at the PS4 and I found they have plans for a "cloud game streaming service" thing and a emulator for previous PS console gen games and that's what sold me.
Though I won't pre-order due to some concerns.
-Will this streaming game service actually work well? I have a max of 160kb/s internet connection atm to worry about as well.
-Will the emulator have the older games I want? (mainly Colony Wars/Armored Core).
I haven't owned a a PS console since the first one so the whole "re-buying games" doesn't affect me. The idea of a console that plays all the classics from all the other consoles is sexy, oh so sexy.
We don't have much info at all on Gaikia or whatever it is called yet.
What we do know:
It is suppose to launch early next year
It will stream playable PS3 games (should work much like OnLive that was out on the PC I'd imagine)
The PS4 has a dedicated chip in its hardware dedicated to it
Sony said they are not sure what or how they are going to do pricing yet as they are currently working on it still and need to figure out the costs it will be for them.
They are also deciding various models with it, from ala cart buying each game you want, to a sub model where you have access to all the games and if this will tie in into PS+ in anyway or be a seperate service all together.
As for your 2 concerns, the internet seems a bit low, but I dunno. Can you stream 720p videos from Youtube alright? If so you will probably be ok I'd guess.
Library they will offer will be expanded on as time goes. We have no idea how they are going to do it.
All and all, it is too early and too little info out there to really know much of anything. It is one of those things we will have to wait a bit on.