Wouldn’t it be bad if we have our favorite games and data on our PS1/PS2 being unable to be played on the new PS3. Sony has promised that the PS3 will be backwards compatible with PS1/PS2 and here’s how they gonna do it.
“To use saved data on a PlayStation 2 memory card, you must copy the data onto a virtual memory card within the hard disk. This requires a PS2/PSone memory card adaptor to copy the data to your PLAYSTATION 3. A memory card adaptor is designed to edit, up/download game saves to and from EMS flash card or smart media card.”
What this means is an adaptor is needed. Whether this adaptor will be bundled with PS3 is still unknown at the moment.
Meanwhile, do you know that Xbox360 have no ways to import game data from Xbox? Learn something, Microsoft.