Well from what I have seen of it on youtube, and on the PS Network store. Its supposed to be almost another world, you make your person and then you can fully customize your "house" which is just a private space for you and a select few of your buds to hang out in. You will be able to listen to your music from your PS3 on it also, so you and others can share your tastes in music. I have heard that you can watch movies together on it too, but I'm not too sure about that one. I think it just may be talk going around. But I look for this to be really big for Sony, this could be the thing that puts them over any other games system. But then again, I could be wrong and this could be a huge waste of time and memory space. We will just have to wait and see.
Basically, if you visit http://www.secondlife.com/ and read on its features, you'll have HOME in a nutshell. The only difference is that Home will boast more pwoerful graphics but less functionality than SecondLife.
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