The PS2 has 120M installbase worldwide. If they still want to support PS2 and keep all the doors open to Sonys direction, porting an old game to a popular platform makes sense and keeps Sony happy (although Sony would propably like to have Nights as downloadable to PSN, but i doubt Sega has interest to upgrade the graphics to HD). Anyway, Sega propably has doubts considering the sales of Journey to Dreams and this way they benefit more from the IP. This could also bring legs to Journey to dreams, and vice versa.
In case someone wonders why not Wii, it's because Sega wants to play it safe.

 Ha!  And who didn't believed Dutch sites?

Joni excellent work =).

This isn't just a port of the Sega Saturn classic. Visually, Sega is upgrading the visuals to PS2 standards, and even adding 16x9 wide screen support. There's no mention in Famitsu of new levels, but Sega is adding an illustration gallery and a movie viewer mode.

Sega is releasing the PS2 version of Nights: Into Dreams at a budget 3,800 yen price point. Fans will also be able to select the 4,800 Nightopia Dream Pack, which includes a picture book.

21/2/08 = Must!

Joystiq also confirm it

http://www.joystiq.com/2007/11/20/original-nights-into-dreams-coming-to-ps2/

It just would make sense if it was released BEFORE the sequel, to build a new fanbase.

But that's SEGA, things just don't make sense at all :lol:

Well, I see the doubters have been crushed by a sea of truth and facts.

Good work.

Still waiting for the Master System and Saturn to turn up in the Virtual Console; someway, somehow.

Amen, and add Dreamcast, too.

sega going atari's way hooray!

Seems crow for me, but I can't say I'm happy about this. I'm looking for ways to stop using my PS2, not more reasons to keep it around. It needs to be retired. It also would have been nice for them to release it along with the sequel on one system. Bleh, I'll buy it, but just so you know Sega you are responsible for me continually refusing to buy a PS3 due to lack of BC.

I'd likely buy it, especially if it's released at a bargain price.