gamesindustry.biz has some new info about the PS3’s ability to play PS2 games & PlayStation HUB, from inside sources at SCEE:
Sources at Sony Computer Entertainment Europe have revealed that technology for the PlayStation Network Platform is being developed at Sony’s London studio, under the internal name of “PlayStation HUB”.
This tallies in with our earlier report [...]
"PS3 Backwards Compatibility & PS3 HUB Update" - 25.04.06