One of the biggest announcements from this week's Consumer Electronics Show (CES) 2013 event in Las Vegas is that of NVIDIA's "Project Shield," an Android-based portable gaming system that includes both a touchscreen and physical controls like that of an Xbox 360 controller.

Project Shield will include a five-inch, 720p multitouch display, which flips up from the controller base to create an all-in-one play experience. The device is powered by a Tegra 4 processor (also announced at CES), which is the company's most powerful mobile hardware to date. Project Shield will run games downloaded via Google Play, much like on any other current Android device, and will feature controller and Tegra 4 support for titles optimized for the hardware.

One big perk that Project Shield offers beyond being an Android device (running version 4.2 of the operating system, dubbed Jelly Bean) is the ability to stream PC games from your computer's Steam library, assuming you have the PC hardware to make it possible. Whatever its final name may be, Project Shield is expected to be released in Q2 of this year, and is one of any number of Android-powered devices (like OUYA and GameStick) that will vie for your money and attention in the near future. No word yet on price, which is sure to be a major consideration as tablets and smartphones continue improving in both quality and value.