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Chip to power the PS3 "On the Way"

According to this story from our crumpets munching pals at the Register, the chip that will powers the PS3 is almost ready to go.

Work on the processor, which will form the basis for PlayStation 3, was formally announced in March 2001, but probably started some time before that.
The PS3 is slated to be formally launched during Q1 2005, but Cell will appear in software development workstations later this year, IBM and Sony promised in May 2004. Sounds cool. Now we know what Sony and M$ are up to as far as processors but what about the Big N?

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