It seems very possible, particularly if Sony is not planning on cutting the price, As PS2 support will only enhance perceived value. Which they will definitely need against a $200 360 this year.
One can only imagine what would happen if it actually Upgraded the graphics in PS2 games to 1080p, or even render everything at 2x and then scale it to 1080p. And then top it off start re releasing PS2 titles on PSN like ICO and FFX. I seem to remember FF12 looked really good when i played it with xploader hdtv player (granted the TV i played it on had a zoom feature to deal with the distorted picture)









