Why would one stay after hours to watch Sony's E3 2011 presser? Probably to either a) try to get a look at Kevin Butler or b) see if Sony apologizes for losing control of their security. You didn't get a), and you got b) out of the way just as fast as they possibly could do it. Blink and it's gone.
For me, I just sat through it and I'm not quite sure if there is a c), myself. I thought the overall presentation was pretty bland, though Sony will clearly score a lot of points with some gamers for not marrying their information to the Move the way Microsoft did Kinect. However, they might well lose points with a variety of other gamers for sticking so close to the handheld.
Some of Sony's games looked pretty great. I've never played an Uncharted, but Uncharted 3 does look solid in a crowded third-person, over-the-shoulder adventure genre. Resistance 3 looks like a perfectly adequate FPS. Everything is starting to look the same, though, and that wasn't helped by following Microsoft. You can show lots of adventure games and lots of FPSes, but after a while the brief time that each game has to show its uniqueness just fails, and I really didn't see anything during the PlayStation 3 portion of the presentation that really lept out as surprising or groundbreaking.
Once the Vita emerged, though, it got pretty interesting as long as you like handhelds. The tech behind the Vita looked pretty great in the live demos, though I for one have never been fully convinced by backside touchpads (fnar). The new handheld looks very much like a PSP, with the crosspad, four buttons, and two shoulders of the current PSP. After that, they added a second analog stick and made both sticks look more like DualShock sticks, made the screen multitouch-capable, and even added a back multitouch panel without a screen and front and back cameras.
The games shown live looked fanastic, nearly like PlayStation 3 games, and it seems like the time the devs have had with the development devices and SDK has paid off. I think the AT&T offering will not help the device; I would guess that the data plans will not be reasonably priced, and with no 4G availability, there will almost surely be a new version in just a couple years. PlayStation Suite, also on the mobile front, seems like a neat idea, but how many Android phones will really have the ability to control games that originated on PlayStation platforms?
Two things to point out here: one, there was pretty much no Square Enix here at all. That's two out of three down and barely any mention of Squenix - not a great sign, in my opinion. Two, please, please, don't let devs give presentations. God bless them, they make good games. They're not public speakers.