I like how everyone thinks it's PS4. I really like the optimism but I feel pretty comfortable in saying this has nothing to do with PS4. Facts are:
- Kaz said they would let MS show their hand first. MS is definitely not announcing prior to February 20th
- Sony has 3 big 1st party games still coming for PS3 (TLOU, GOWA, Beyond) with GOW less than a month after Feb 20th and TLOU less than 3 months after it. A PS4 announcement would undoubtedly negatively effect the sales of those games.
IMHO I think the most likely scenarios are:
1) PS Gaikai - rental service for PS services. Play legacy PS games on a browser, tablet. Play PS1/2/3 on vita with a lower res for the PS3 games. Play PS4 games on PS3 with lower res, etc
2) PS Vita 2000/XL/Tablet/Phone/Mini/Whatever along with a price drop. Took 3 years for the first PSP redesign, but the 3000 and the GO were just 1 year apart. Times have also changed, 3DS XL came some 15 months after the 3DS and the vita sales are pathetic but they said they want the vita to be around for the long haul. This is the best time to try to revive it and relaunch it as if they try to announce a redesign/price drop AND the PS4 at E3, the Vita news will get swallowed by PS4 hype
3) Games. Not as likely because they won't show PS4 games and all big PS3 games that are coming out have already been announced and are pretty much set in stone. It would be mainly major vita games to try to revive the platform like Nintendo tried to do with the WiiU on the last Nintendo Direct. Maybe show big 3rd party games, if R* was indeed working on it like they were rumored to be, get their game out there, or something like that.
4) PS4 announcement. I conceive it's possible, but Sony would have to be pretty fucking dumb to announce it on the 20th
Absolutely not.