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I had a PS3 a while back and wasted about $150 on the PSN cards. When the PS4 comes out (before November, hopefully), would I still be able to use the content purchased on my account? Or would it be useless and I would have to sell it?
yes, you can if you got the stuff on the account awhile back, then everything on it is probably real cheap now and its probably not even worth 100 dollars now.