There's a completely new game in there - Wipeout Fury content/tracks is in there as a bonus, though obviously you have to assume that the HD/Fury engine is the back bone (if that's what you are talking about ...)
All the gyro/touch nonsense is optional as well. Played it at TGS - it's pretty much as expected. Track looked great but was a little uninspired in lay out, so the jury is still out on the final game (Jan i think in Japan (?))
I'm pretty sure the engine is the same. It looks nearly identical to the PS3 version, and the PS3 version uses some pretty untypical tricks with global illumination and baked irradiance maps to achieve the quality that they pull off at 60FPS (as I recall, that achievement alone was a big deal for SCE Liverpool).
I dunno, I guess I'm just annoyed that if I want to play Wipeout- I need to buy a whole new console. Again. I already fell for that with my PSP, then failing to learn from that mistake- I bought a PS3. And there is no end to my regret in giving Sony my money for that piece of gear now that they've successfully told me to bend over and take it like a man several times. Einstein once said... "Insanity is doing the same thing over and over again, and expecting different results". I look at the products I've bought from Sony and I wonder if I've truly gone insane.
I was about to join the "homebrew or GTFO" chorus, but then I realized that I can't articulate how that would really differ from a rooted Android phone ~6 months from now.
I have to ask- why do you want homebrew?
Why buy a device that doesn't do what you want out of the box?
If you want to develop for something, why would you bother putting up with the madness of having to maintain your own GCC toolchain and link to some reverse-engineered half baked API that will never offer things like true 3D acceleration, or anything else useful that a triple-A title might require?
Or do you just want your ISO loader for cracked games?
-CMPX