IGN and Gamasutra have the goods on the PS meeting 2005. It looks like most of it is recycled E3 footage, but all of this footage does run on actual PS3 hardware. Some of the footage was even controllable. Included in IGN's videos are: the standard duck and Doc Oc face demo footage; an unnamed project by Koei; Genji by Game Republic; Unreal 2007 by Epic; Capcom's Resident Evil (Biohazard) 5; Bandai's Mobile Suit Gundam; Webzen's Endless Saga; Factor 5's Lair; and FromSoftware's Project Force. All of the demos really show off the power of the RSX's lighting ability. Note about project force, it's been reported this game runs at a full 60 fps with high-resolutions destructable environments.
According to Kutaragi, the PS3 would be pricey, but didn't confirm a price and is scheduled for a simultaneous release in the US and Japan Spring 2006.