i believe PSNOW will be PS4 BC features in future, users who own the games from PSN will be able to play it for free, as well as users that verified their PS3 disc...

It can be done, just not easily. And I doubt they will. If they do it will run like ass, example:

*The actual gameplay parts. not the cutscenes*

Why bother with it? They gave gamers a fully BC PS3 last gen and a lot people didn't buy it because it made the console really expensive. Do gamers actually want it? At this point, sony's PS4 is beating the competition 2 to 1 and doesn't need to do anything in regards to BC when it has a game streaming service and games on PSN. MS is trying whatever it can to bring more appeal to console and it hasn't convinced the world to go with the xbox one yet.

There's no point in doing that. BC isn't an important feature.

Sony is already happy with their business. why bother?

I believe I remember hearing about them looking to do that for the future, which makes sense given the PS4's hardware. PS3 games on the other hand will most likely never receive emulation on a future console. And for all those who keep repeating that BS about PS Now being their backwards compatibility solution/way to get more money, please stop. PS Now is a rental/streaming service, not for offering backwards compatibility. I don't own every PS3 game, do you? PS Now let's you play games you don't have on a variety of systems. It will probably offer PS4 games down the road too.

Why bother coding an emulator when they can package all backwards compatibility into PS Now?

Only an issue if they want to re-release games on the PSN. Not a problem for the emulator itself.

There were no licensing issues with ps3 playing all ps1 games

And coding it for the cell instead which never could run ps2 games in the first place? They would have to write it for x86 hardware, so they might as well make it nativley