Part of a marketing email from Sony about E3 2013, the PS4 was shown, albeit behind a blue velvet cloth. It seems to have the same dimensions as the first PS4 teaser video and you will definitely be able to put the console vertically. We’ll know for sure in a few days!
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I think it will look be set up just like a PC tower based on the power we’ve been told it will have and the few teaser images we have seen
Good point, but I also think you will be able to put it flat, just like the PS3.