I'll admit that I didn't think that the BS-less rumors were true, but they are. However, it could be something that could be patched into the 40gb should Sony find a way to add the full software emulation in an update and have it be 80%+ compatible. Will this happen? Eventually I think so, but I wouldn't hold my breath on it.
You have to keep in mind what the typical gamer thinks compared to those of us here who are hardcore. I talked to a friend of mine who plays games once in a while, but wants to get the PS3. I told him about the new 40gb model, but told him that it wouldn't play PS2 games.. He said, "I really don't care, I didn't buy a PS3 to play PS2 games. That's like buying a Porsche and only driving it in a parking lot at walmart."
Maybe it really isn't as big of a deal as some people make it out to be here.
My pokemon brings all the nerds to the yard. And they're like, "You wanna trade cards?" Damn right, I wanna trade cards. I'll trade this, but not my charizard.