PS3s were always able to play PS1 games.  They just stopped updating the emulator.

................FUCK!!!!!!!!

This rumor, based upon a mistranslation, has already been struck down.

On a related note more closely aligned with reality rather than wish fulfillment, the CECH-3000 series PS3 looks to be nothing more than another minor product refresh with a lower power requirement (200W down from 230W) and lower weight (2.6 kg down from 3.0 kg) and a few other minor external changes (power/eject buttons, LED indicator lights) and a base 320GB HDD.

In other words, this doesn't look to be the PS3 Slim*mer* hardware redesign that most presume will accompany the inevitable $199 MSRP.

Still, less power, lower weight is always welcome assuming QC remains consistent. A $50 MSRP reduction isn't completely out of the question for the CECH-3000, but still a bit aways from being a given.

And yes, I'd still rather have HD collections of the best PS2 titles even though I

A) Currently already have just about every PS2 game I'd ever want.
B) Already have a CECH-A01 PS3 to play them with.

5 years too late since pcsx2 is really good now.

In theory yes right? Yet, I have my doubts sadly, but come on now I'm doing alright with just good 'ol ps1 and ps3 games

As has been stated, this is a very poor mistranslation, and the original Japanese says the exact opposite.

Locking.