Hooray look at that! Some dude on the other side of the world has a Playstation phone (otherwise known as Zeus Z1), and he (or I suppose it could be a she) put up two videos of it working. Here you'll see quite a few fine features like the slick new Android 2.3 Gingerbread interface, the super sensually smooth sliding of the back panel becoming game controls, and the big S in square in the center of the controller. Pay close attention to the moment the screen turns to the Android version, I know that even though you knew what it'll say, you'll still be excited to see it.
Notice the thickness of this device - it's no slacker. The ratio of the back, where the camera, controllers and L and R buttons are housed, to the front, with the screen, tells you how much importance they've placed on the ability to play games with this device. Sony Ericsson means business with this device. Unfortunately it appears that there's no games to be run (or the person in the video simply doesn't have any ready to test) so you'll have to wait to see what the device is capable of. For now though, cookie goodness!
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