This game takes places earlier in the Wipeout timeline, even though it is still in the future (hence the year 2048.) It is this time anti-gravity racing begins to be popular on Earth and racing takes place in big city locations. There will be races in New York City blending modern city designs with futuristic elements you are familiar with any Wipeout game. There will be three tiers; the lower tier will show the modern architecture of NYC and the higher tier will show the futuristic elements of the ever expanding metropolis. Also the game will feature wider tracks so you can use your weapons to unleash more vehicle carnage.
You can race players online via cross-platforming Playstation 3 (from WipEout Fury) while on the PS Vita! It will have tracks from Fury with a campaign centered around mission requirements to increase your stats on the leaderboards. Check out the http://blog.eu.playstation.com for more details about this awesome feature.
The Vita is boasting a super lineup on February 22, 2012. WipEout 2048 is amongst an impressive lineup you can find on the Playstation blog about more details of the upcoming hand healed system.