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Good Gosh Griffin where have you been. Here is a brief, but hopefully accurate (it is confusing) run-down:

Original 20GB and 60GB in Japan and America - fully Backward compatible (i think there were some issues with odd games though)

60GB in Europe - EE chip taken out, but GS? chip still in so therefore uses part software BC, not 100% compatible, but I think it was something like 90%, which is a still a lot of games.

80GB in America - same as 60GB in Europe I believe.

40GB in Europe and America (and now Japan) - No Backward Compatability with PS2 games at all. It is unknown yet whether it will be possible to make a firmware update that enables emulation (I would assume yes)

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If any of the above is incorrect please correct me.