I know this is rumoured for a while now, and the web seems to be cluttered with alleged "concept" or leaked stills, but this report from CNET, complete with SCEA interview video footage looks pretty genuine.
http://news.cnet.com/8301-17938_105-10252808-1.html
No UMD (no real loss there – as long as there is some utility to rip your old UMD’s to memory stick)
16GB internal flash mem.
Smaller screen.
Slide out controls.
Uber light.
Bluetooth support.
Wifi.
no mention of GPS though…