If your system is one of the newer 80 GB systems (after the MGS4 bundles) you will not be able to play PS2 games, period. The software emulation Sony used was removed from them. They are basically the 40 GB system with a larger hard drive inside. Here's the breakdown of how the PS2 playback worked through the North American systems (as my memory serves, feel free to correct me where necessary):
20 GB, 60 GB (original launch models): actual PS2 chipset inside, near-full BC
original 80 GB, Motorstorm bundle, MGS4 bundle: software emulation, partial BC
40 GB, current core 80 GB: No PS2 playback, emulation removed.
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All of the systems will play the PSOne games, they have the emulation done in the PS3 hardware/ software itself. If they ever do decide to bring back PS2 playback it likely won't be until they start offering PS2 downloads in the store (which i'm not holding my breath on).
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