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From HardOCP....a PC Gaming enthusiasts website:

NVIDIA Announced Shield Gaming Device

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Streaming from the desktop PC is a bit narrow at the moment as laid out by the specifications. As noted I would suspect this to broaden, actually quite a lot, as the product gets closer to hitting the store shelves which is expected in Q2'13.

System Requirements for PC Game Streaming*
GPU: NVIDIA® Kepler™-based GeForce GTX 650 (Desktop) or
GTX 660M (Notebook) or higher
CPU: Intel Core i5 or equivalent or higher
System Memory: 4 GB or higher
Software: GeForce Experience™ application and latest GeForce drivers
OS: Windows 7 or higher
Router: Router: 802.11a/g/n
(Recommended: 802.11n Dual Band / MIMO Router)
*System requirements are preliminary and may be updated closer to product availability

It seems as though the screen equipped on the Shield will be very nice for a native Shield experience as well. Tegra's image quality has always been impressive as well.

5" Retinal Display
SHIELD flips open to an integrated 5" 1280x720 HD multi-touch display. With 294 dpi and 921,600 pixels, SHIELD has the highest resolution and pixel density of any handheld gaming device. In addition, Tegra 4’s Direct Touch technology gives SHIELD touch response three times faster than other touch devices.

Discussion

Shield website is up - http://shield.nvidia.com/

From the comments at HardOCP to the article:

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Today, 01:30 AM

bman212121Limp Gawd, 1.4 Years

Status:

Quote:

Originally Posted by MetaKnight

This puts PSP to shame. However, if Shield is a bit of a hit to the wallet I doubt it's going to hurt sales as much as it hurt the PSP considering all of what this can do. People who look at this thing will undoubtedly say it's worth it if it isn't too extreme.

I would definitely agree with you on this one. I was excited about the PSP when it was first coming out, but it doesn't come anywhere near what this device can do. Even a 3DS is going to be put to shame by this device.

Real controls, real web browsing/email/applications, better graphics, no discs or cartridges to deal with, and the ability to play pc games over the device.