Gran Turismo 5: Prologue is the most recent title in the series, having helped kick-start PS3 sales in the UK back in March.

"Initially, Gran Turismo was an ‘alternative’ racing game, kind of an outsider in the genre and we made it thinking that it would be okay as long as it reached out to ‘the select few who would agree with us'," series creator Kazunori Yamauchi said.

"I would really like to thank all the fans who have supported the Gran Turismo series over the years, for all their passion and love of the game. We’d like to continue making every effort to create cutting edge, high quality games, so that we don’t disappoint anyone’s expectations."

Codemasters has confirmed that its first F1 titles will be available on all formats rather than just the PlayStation 3 (a la Sony), stating that it will use the publisher's EGO Engine, as seen in Colin McRae: Dirt and the forthcoming Race Driver: GRID.

"As a world-leading creator of driving games, this alliance with Formula 1 is the jewel in Codemasters’ racing crown and creates an undisputed segment champion," Rod Cousens, CEO of Codemasters, said in a statement.

"Formula 1 has gone with the best, the segment leader. It has gone to the home of the EGO Engine for quality; it has gone to the company that can host Formula 1 Online, to the company that is streaking away from the pack."

Speaking to the BBC, Hirai said that the PS3 will be around for many years to come.

"We've only really begun to scratch the surface with PlayStation 3 but I am confident that given the long life-cycle we have planned for the machine we are going to have a very good install base in all of the major territories,” he said.

"I am very confident that after the 10-year lifecycle we will have the install base that we are looking for and that is obviously to be in the leadership position."

(Source: Next-Gen.biz.)

Speaking to VideoGamer.com, Reeves said he expected that the downloadable content would hit PS3 at some point anyway.

"Well I think you probably will see [GTA 4 DLC on PS3]," Reeves told the site. "It's just that a deal obviously was struck between Microsoft and Take Two to do that, and if that's what they want to do, I think that's the last shot they have."

"PS3 is just fantastic. It’s tricky to develop on, but that’s just a learning curve. You work that out and you cut corners and squeeze more and more out of it with each game you do," MotorStorm creative lead Paul Hollywood told Next-Gen.biz.

"“I remember one minute in time when I just sat there and thought, ‘I can’t believe what this console is doing.’ I’ve been making videogames for 18 years now and I’m quite jaded, but I was like, ‘bloody hell, have you seen this?’ And it’s just getting more and more like that."