A new rumor has hit the streets regarding the upcoming PS4. The rumor details its code name, chip maker, and some other curious details. So let's begin. First off, its codename is believed to be Obris, or "circle," possibly to make it part of a "circle of life" with the PS Vita. The cell procaphessor is rumored to be dropped completely along with the Nvidia graphics.
In its place its rumored to use a 64-bit, x86-based AMD processor as well as graphics based on AMD's Southern Island core, which powers the 7700 series and up. Likely, the performance would be towards the upper spectrum of gaming performance. It should be able to play 3D games at 1080p but probably only regular games at 4K (4096x2160).
Switching to the x86 processor would cause the new PS4 not to be backward compatible with PS3 games. It also is rumored that the PS4 would block used games, at least to some extent. They may take a step like selling an online pass, but this step will still anger companies like GameStop.