Damn considering the newer and "refined" architecture, 3.2 GHz is a big jump over the previous gen, i expected much less for it. It won't launch now, for example SF6 won't launch this early.

This would be good stuff if it was released right now, since you essentially get the performance of a pretty beast computer for less than half of the price of what such a computer would cost (e.g. 2080 Ti, good CPU, SSD, plenty of RAM etc.). But considering that this is most likely slated for release during Christmas 2020, this is a bit of a joke. Surely they might be able to compete with price then, if they price this console at like $400-500, but it's not gonna be a big advantage.

There used to be a time when gaming consoles wereld the cream of the crop.
This one hasn't come out yet, and it's already so yesterday!
My PC has 40 Tflops on graphics alone. 2x RTX 2080 Ti, and a 2080 in a cuda configuration.
Even my portable PC with RTX 2070 and 2060 has more than this!

For them to not be outdated at launch, they will need at least twice the Tflops, offering true 4k stereo image with RTX.
Otherwise, people get a better offering in the PC market.

Backward compatibility with PS4 natively and PS3 via PSNow makes sense.  PS4 and PS5 will be using x86 architecture so it should be trivial for PS5 to run PS4 content.

PS3 used Cell processors so it would either have to run thru emulation or a cloud solution like PSNow.

That portion at least is totally reasonable and plausible.

I wouldn't be surprised to see clock speeds bump up on the CPU and GPU between now and then.  I think it'll depend on what MS announces at E3 this summer.  I don't see much changing in the way of cores.  Is it going to be 8 cores and 16 threads or 8/8?

RAM - most standard gaming PCs come with 16 GB right now.  I think 24 GB is a little stingy considering the length of time this will have to last.  I'd probably go 32 GB.

If they're using an SSD/HD solution, it's probably going to be something similar to Intel's Optane - caching the most commonly used stuff for faster loading and keeping the rest on cheaper HD storage.  I hope the ability to add/upgrade SSD storage is there, and it uses NVMe.  Using SATA would be a mistake IMO.

Hopefully it'll be a little more friendly to USB devices like WiFi cards.  I have an original PS4 and the WiFi is horrible.  I'd much rather have a good USB WiFi card with a better antenna, but it can't be done.

Also hope that controllers and everything use USB-C - or at least have both A and C ports.

That's only a little over double the TFLOPs of the Xbone X and when you look at jumps we have had in the past this is pretty small so I'm not sure there will be a huge difference between PS4 Pro and PS5 games.