A rough quote goes a bit like this: "We've actually got three internal titles that we're working on at Sony Computer Entertainment America. One of them, WarHawk, is playable and you can compare the graphics and see it live. Also, with another one of our launch titles, a game from factor 5 called Lair, the live footage compares very favorably to what was shown at E3."
The interview also goes over pricing and availability, but Sony reps were quick to sidestep the questions. Expect more details as they arrive.