After the initial controversy about the pricing, PlayStation Now seems to be finally taking off, and Director of Marketing Peter Jamshidi provided more information about what we can expect in the comments of a recent PlayStation Blog post.

First of all, news about a subscription plans are coming soon:

Yes, A subscription plan is being worked on, and I’m very excited about it. We see it adding a complimentary option to rentals as a way to enjoy immediate access to PlayStation 3 games via PlayStation Now. More details coming in the near future!

Jamshidi also game some info on the plans to make more first party games by Sony available in the service:

Recently we published God of War: Ascension, Twisted Metal, and Ratchet and Clank: Into the Nexus.
Yes, we will definitely have more first party titles coming soon to the service and realize a lot of people may have missed out on the types of amazing experiences you mention that are only available on PlayStation.

Per my earlier comment, making our first party PS3 games available is definitely a strong part of the vision of PlayStation Now. We want to make these amazing PlayStation 3 games accessible to more people than ever and on more devices than ever, including on the PS4.
So yes, we definitely have more first party titles lined up for release in the near future. Hold tight!
PS If you haven’t already, check out some of the first party titles already available for PS Now including Infamous 2, Ratchet and Clank: Into the Nexus, God of War: Ascension, and Twisted Metal.

Finally, we hear that there are plans for PS1 and PS2 games as well, but those will come on the longer term.

We are focusing on the amazing PS3 library at the moment, but do have plans to go back even further in time and offer PS2 and PS1 games longer term.

Personally, a semi-backwards-compatibility with PS2 and PS1 games would definitely add a lot of attractive to PlayStation Now on PS4, and I’m quite sure I’m not the only one feeling like that.

http://www.dualshockers.com/2014/11/13/playstation-now-subscription-plan-news-coming-soon-ps1ps2-and-more-first-party-games-planned/

My prediction is that the Internet will slam the announcement for what it perceives to be a ripoff price.

If its a subscription service on a per month baises like netflix or gamefly, then yay if not then nay

So PS3 gets actual PS1 and PS2 downloads, files we can keep forever and PS4 ONLY gets them as streamable? That's kind of crappy imo.

They should include it with every PS+ sub.

They won't do that because then everyone will have access to it. They would want it to be an extra charge. 

No way that would be possible. I don't see how they can charge less than $15 a month for this service.

I'm glad to hear about the subscription plan being almost ready, I hope it's not prohibitively expensive. I'm also excited to see the library of games they offer expand.

I will join when PS2 and PS1 classics become available. Lately i have had more fun playing PS1 and PS2 RPG then playing current and past gen RPG

I'd love to hear more details, but I like the sound of this. Color me interested.