Released in 2006, the PlayStation 3 was the most technologically advanced (and, at the time of release, most expensive) system to hit the market. It featured backwards compatibility with PlayStation 1 and 2 games, was a blu-ray player, a hard drive, and wireless, SIXAXIS control. The system originally came in 20GB and 60 GB models, which have both been discontinued in favor of 40GB and 80GB models. Backwards compatibility is being phased out of the PlayStation 3 however. The 80GB model has limited backwards compatibility and the 40GB does not include the feature at all.
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