What is the Matrix?

Matrix pre-cursor LivePlace is being (co?)founded by Brad Greenspan, one of the co-founders of MySpace.  In this virtual reality world which far exceeds Second Life in quality, everything is configurable and the size is virtually infinite.  But what is the minimum specs for this virtual eden?

A palm pilot or kiosk web browser and bandwidth.  That’s right, all video rendering is performed on the server.  Which makes the content you receive more like an interactive video than an application, and the possibilities are staggering to consider.