I must admit, I'm a little surprised. After Sony's conference, I expected they'd wait a month and announce some concessions, but a complete reversal only a week after E3? I guess that shows just how spooked they are by the preorder numbers they're privy to.
Overall, I think this is great news for the industry, but I am a little bummed that they appear to be abandoning the plan to share downloaded games with friends. The industry is moving toward digital distribution over the long term and I'd like for some way to transfer licences to be included in that future.
I'm tentatively sticking with my plan to get a PS4, but I'll see how things pan out over the coming months before making a decision.