Announced earlier this week, Sony's PlayStation Now service will stream cloud-based games to Sony consoles, handhelds, TVs and more. PlayStation Access put together this lovely little primer covering the how, what and whens of PlayStation Now.
It's basically Onlive for PlayStation Games. Games are run on remote servers, accept remote input from the player's Dualshock controller. What the player sees is actually video of the game they are playing, streamed over the internet.
According to a post on the PlayStation Blog, the team developing the service estimates a 5 mbps connection will provide a good experience for players on most game. Might want to hook up a network cable to your PlayStation 3 or 4, just to be safe.
Hungry for more info? PlayStation.com has a page where users van sign up to be kept up-to-date on the latest PlayStation Now info.