Here's the Youtube vid.
http://www.youtube.com/watch?v=fCdN0Vh2duk

It's a slider device, an evolution of the PSP, not a new console. Sony is keeping the PSP 3000 around and it will be supported as well.
I was considering trading in my 3k for one of these before I saw it. Right now I'm not so sure. The thing looks like a carpal tunnel creation machine.
Here are some of the highlights mentionned from the Qore video.
• The Go's 16 gigs of flash memory and bluetooth support ("You can also tether it to your cell phone,") are touted.
• In discussing the PSP Go's video-playing capability, it sounds like the rental service through PSN will extend to the PSP Go.
• PSP Go will not replace the PSP-3000; the 3000 will still be kept on the market.
• The PSP Go will arrive this fall.
• It's 43 percent lighter than the PSP-3000
• It has a 3.8-inch screen