GameSpot writes on official PS3 updates, among others, that the system will support Sony’s Blu-Ray high-def standard. The PS3 will also be backwards-compatible with PS1 and PS2 games, according to the report, contrary to earlier speculations that the PS3 will not fully support titles and game verisons released for the PS1 and PS2.
Sony will equip [...]
"PS3 Will be Backwards-Compatible" - 12.05.06