Hmm well it is good to know that some of the less fortunant PS3 owners will be able to start emulating PS2 games again, still I would have to recommend to keep ahold of a PS2 if you have a PS3.

Also on a related note, I figured this article would help bring some things to light and might also resolve some questions.

Second-Generation PlayStation 3 Features Cost Reduction, Supplier Shifts ? iSuppli Corporation

Also here is a link for those that are confused about which models of the PS3 actually have backwards compatibility capibilities.

http://www.us.playstation.com/News/ConsumerAlerts