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Sony has been rumored to be working on PS2 software emulation since 2005.
In fact, the PS3 was never supposed to have PS2 hardware in it, it was supposed to be all software emulation.
People assumed they gave up when backwards compatability was completely removed from new PS3 models.



Yet, today, America's leaders are reenacting every folly that brought these great powers [Russia, Germany, and Japan] to ruin -- from arrogance and hubris, to assertions of global hegemony, to imperial overstretch, to trumpeting new 'crusades,' to handing out war guarantees to regions and countries where Americans have never fought before. We are piling up the kind of commitments that produced the greatest disasters of the twentieth century.
 — Pat Buchanan – A Republic, Not an Empire