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While I think this would work for a while (and short term is probably the best move open to Sony Entertainment (remember they have seperate divisions, BR, TV, etc. are not all lumped up with the Playstation division) this shows they have a problem with the PS3 right now - namely with its price point and power graphics it is seen as more of a hardcore console (despite the brand image) and is not selling well enough to more casual market.

If they do push PS2 for another year or two they need to get a proper transition strategy in place this time that would take people from PS2 to PS3 in the casual market.