If this is true, then this could explain why the PAL version (but also the new US/JP versions) can only play limited numbers of PS2 titles. I am guessing they are using software emulation.
Click the links below
http://www.n4g.com/ps3/News-26609.aspx
http://www.ps3forums.com/showthread.php?t=59112
original source http://www.eurogamer.net/forum_thread_posts.php?forum_id=1&thread_id=75949&start=150
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