PS3 security is "epic fail"

[Grapple Convoy]

I look forward to being able to load a PS2 emulator so I don't have to have both machines hooked up. I have a PS3 slim, so they'd long since removed that feature.

The PS3 Slim doesn't have any of the PS2 hardware onboard, either the 'Emotion Engine' CPU or the graphics processor, so it'd be impossible for the Slim to emulate the PS2.

[Grapple Convoy]

The PS3's GPU doesn't have a high enough fill-rate to emulate the PS2's GPU(!), that has been commonly documented. Therefore any PS3 without PS2 hardware onboard will never run PS2 software. (I have a launch model 60Gb PS3, PAL, which has the GPU and not the Emotion Engine CPU, and even on that, the PS2 backward compatibility is unfortunately limited.)

[Grapple Convoy]

Can brand new PS3s play PS2 games?

No. Only the PS3 models released before October/November 2007 can play PS2 software, and then only the earliest North American and Japanese PS3s have full hardware-based PS2 compatibility.

http://en.wikipedia.org/wiki/PlayStation_3#Model_comparison