The PlayStation Eye, a camera peripheral announced for PS3, was announced earlier this week. Here's a summary of everything we've learnt about this little gem.
The Eye isn't capable of streaming HD video. It can display a resolution of up to 640 x 480 to 60 fps and 320 x 240 at 120 fps (perfect for picture-in-picture). It may seem strange for Sony to take this route as they have been heavily touting this as the "High Definition" generation, but it must be noted that an HD PS Eye would probably be twice as expensive and unreliable when playing anything online. At least it can take HD stills.
A completely new part of the PS Eye is its microphone, which Sony mentioned is apparently quite capable of accurate speech recognition. Anyone remember Eyedentify from E3 '05? Yeah, so do we.
The Eye is bundled with EyeCreate editing software, which allows users to save and edit photos, videos, and audio clips. According to 1UP, you can even play around with special effects such as time lapse and slow-motion, which brings up the next point.
Think about how the PS Eye could be incorporated into PlayStation Home. Expect to see a part of Home solely dedicated to sharing pictures and videos with other Home users. Imagine a YouTube-like community right on your TV, with a better presentation. We're digging the idea too.