Damn that h.265 (HEVC) sounds incredible. Shame that its not scheduled for full standards ratification until next year. According to
wikipedia anyway.
Working draft has already been published which means it can be used now. For companies like Sony that create and sell Media as well as create the hardware that displays the media can use h.265 or their own creation to reduce IPTV bandwidth used or increase picture quality now. Sony is already using Zlib (open source) to compress data sent over the internet. Zlib can be used with programs as it's totally loss-less. Media can have some loss so a compression scheme for media can be more aggressive and media for the most part has duplicate data between frames which Programs don't have.
LG and others stating that 4K blu-ray will be released 2013 after the h.265 final draft Feb 2013 also is predictable.
Sony is releasing a "1080P" blu-ray player that up-scales to 4K this year. Changes needed to support a 4K blu-ray player are a faster CPU (to support h.265) and larger buffer memory (drive does not have to be modified) which would be in a 1080P to 4K up-scaling blu-ray player (This is the current consensus on the internet). I would guess that sometime after 2013, Sony will announce that their 4K up-scaling players already support 4K blu-ray as does (possibly) the PS3 (maybe only the slim).
PS3 will have "capabilities that are going to be market leading in 2012 and 2013"