Sony held a press conference recently on the 20th. The PS4 was announced along with a large amount of technical specifications and multiple games and features. We got a first hand look at the controller design, which has a touch screen in the center and a "share" function that allows players to upload video content to their friends.
What we didn't get, was a console. It seems rather strange that a console reveal wasn't present at a console reveal. According to an interview Sony did with 4Gamer (be warned, it's entirely in Japanese), even Hiroshi Kawano, President of Sony Computer Entertainment Japan, doesn't know what the PS4's design is.
"If I'm being honest, I also haven't seen its final design. Even the controller we showed today, I saw the final design around yesterday or so."This leaves Sony plenty of time to develop the design, but if we are truly looking at a November launch, they better start moving. Mass producing consoles in the millions is gonna take some time.