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Megadrive Play TV - just hook this thing up your TV via the RCA jack and you are ready to play! 6 games included - Sonic, Golden Axe, Altered Beast, Puyo Puyo, Kid Chameleon, and Flicky. These are the Genesis versions, not the Megadrive ones, which is ironic considering its product name. Release early September for 4179yen (approx $40).
Interesting item.
More pics here:
http://www.watch.impress.co.jp/game/docs/20040615/toy-s.htm
Edit: Ah I see its old news. Well I was busy at E3 so I didn't have time to check all the websites