Please tell me this George Foreman Grill look-alike isn't the new PS3

I don't know how many of you are aware of this, but it's been rumored for a while now that the folks at Sony are working on yet another redesign of the PS3--presumably so they can sell the system for less money (while still making some sort of profit, of course) and rope in a few million more gamers between now and whenever they finally release its successor.

I've been paying close attention to those rumors due to the fact that I'm still "sans PS3," as my French friends say. (OK, so I only have one French friend, and he never says "sans PS3." Or at least I don't remember him ever saying that particular phrase.)

So, how did I react after seeing the photos below, which spread across the Internet like a swarm of Smorgs yesterday (starting with this blog post) and which show what appears to be the aforementioned redesign in the flesh, so to speak?

Honestly, my first thought was: Damn, that thing is ugly. And then I thought: Wait, that's not really the new PS3, is it? Please don't let that be the new PS3.

Now that I've had a few hours to digest this shocking bit of news, do I feel any differently? Not really. Before anyone rakes me over the coals, though, I'd like to say that I realize these photos are rather terrible (to put it lightly) and that the final product probably will look at least a smidge better than the one depicted above.

Also, I'd like to say that all will be forgiven by moi (yep, another French reference) should this third PS3 system hit store shelves in my neck of the woods for less than $200 (which is what it'll take for me to jump back aboard the PlayStation train).

How about all of you? What do you think of this redesign--should it be shown to be the real deal, of course? Are you delighted? Disgusted? Disinterested? Some other word beginning with "d"?