First off, the PS2 is still going strong after the PS3 went on sale, to mostly mainstream buyers and the existing base of gamers there who continue to buy PS2 games. So this isn't a dead stop date by any means. Secondly, it means PS4 could be here sooner than we expect, even if David Reeves says "it's not on the horizon". By years. Because Sony's mantra was previously that the PS3 was a "10-year console".

It is possible that the point of this "8, 9 or 10 year" statement is to soften up the public for the possibility that the PS4 will come sooner rather than later.

But I think the statement, made in the context of the statement that other console makers having their systems out first, is based on outdated thinking of competition based on hardware specs alone. The PS3 is a fine piece of hardware, and its potential hasn't been tapped in terms of making it easier to program for, and giving it true marketplace and friend finding abilities in the cloud. Work on the software, then talk about new hardware. You don't need to hint at new machines to counter statements that competitor will have machines out first. Just work out the kinks with what you already have. [now gamer]

To say that there will be no PS4 because of a management change is a bit far fetched.

VP Paul Holman also reiterates the PS3's "processing power" and that it's not really a gaming console as much as an all-in-one entertainment center. He said the PS3 could possibly come with a keyboard and mouse to let users easily access the net or use third-party OSes installed on the machine. Definitely interesting, the way Sony's not completely hating on hacks the way Microsoft is. – Jason Chen

PS4 In 2010 Claims Sony. Major PS3 Upgrades In Between [Smarthouse via TechEBlog]

The appointment of Hirai could be the start of a shift from hardware to software. I cannot now imagine a PlayStation 4.

Of course, this is just an analyst's opinion, and the more outlandish a prediction they make, the more attention is given to them. Like we're doing now. Damn it.

Five years is a long ways away, and even if the PS4 won't be disc-less, there probably will be a lot of changes in terms of content delivery and hardware between now and then. – Jason Chen

Is the PS3 Sony's Last Console [Kotaku]

I'd be amazed if the PlayStation 4 has a physical disc drive.

So you mean in 5-10 years, our home's series of tubes/big trucks/broadband connections will be fat enough to download a 50GB game in a decent amount of time? We sure hope so.

But wait, Phil! You mean those precious Blu-ray discs that your company's humping so hard is going to be gone by the time PS4 is out? Oh wait, Kotaku's Ashcraft already beat me to that joke/conclusion. Damn you Ash! Damn you and your 16-hour head start. – Jason Chen

The Infinite Arcade [Wired via Kotaku]