If you're holding off buying a PS3 because of its lack of PS2 emulation then seriously you need to reassess whether you want one at all. You are buying a PS3 to play PS3 games, not PS2 games. The reason PS2 emulation was dropped to begin with was because the emotion chip cost money which in turn made the PS3 more expensive to manufacture. PAL PS2 emulation did exist in software form but even then it was never 100%. I have a PS3 with the software emulation and games such as GT4 didn't even work 100% (frame rates were choppy). Sony even had a website up detailing which games worked/didn't work/kinda worked which shows that it was never 100% to begin with. Add to the fact that the PS3 has never had a memory card port to begin and it means even if you did have PS2 emu, you couldn't use your old saves on the PS3 anyway (frustrating for GT fans who'd gained all their licences and unlocked all the rare cars.). So really, if you want to play PS2 games, stick to the PS2 and use the PS3 for what its primarily designed for - to play PS3 games.