Sony's hooked up with Warner, Fox, Lion's Gate, Disney, MGM and others to bring video rental to the PS3. Video is set to be fully integrated into the PlayStation Store, said Sony's Jack Tretton at the company's E3 press event.

A video button in the PlayStation Store will have separate categories for TV and film to choose from, and movies can also be listed by studio. The Eye and Reservoir Dogs were seen in the store during the demonstration, though currently 85 are available for rental in standard definition.

According to PSN's Eric Lempel, it takes about an hour to download one of the rented films. Price points vary too - $15 to purchase, $6 to rent in HD, and $4 to rent in SD.

The AVC-format videos downloaded to PS3 can also be transferred to the PSP via a USB cable.

The service launches tonight!

Contact information for this author is not available.