Here is my theory. I've posted this elsewhere, like Joystiq. I think they will add PS2 BC to this 40 GB PS3 in the future.
The 60 GB PS3 has both the GPU and CPU from the PS2. The 80 GB version only has the GPU and emulates the PS2's CPU. I'm sure the future plan for the PS3 was to also remove the GPU, but only after their PS2 emulator could do both the CPU and GPU.
Sony wants to get a cheaper PS3 out this holiday. They are doing this by removing the PS2 GPU, among other things. The only problem is their full PS2 emulator is not ready yet. They could easily add this full PS2 emulator in the future by firmware update. The PS3 already plays PS1 games by emulator. So, that's why there is only mention of it not playing PS2 games.
I would bet that within 6 months, this new PS3 will be able to play PS2 games. Just my 2 cents.
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