207w ago - According to PSInsider (linked above), the recently discovered PS2 emulator Sony has added won't arrive on the PS3 console until late 2010.
While PS3 Firmware 3.15 added support for Sony's PSP emulator to the PlayStation 3, PS2 fans may want to check out Open PS2 Loader for PS3 until fall of next year.
To quote: "Sony PS2 emulator will probably WON'T be published until end of 2010 (yes, next year) as for this and next year Sony will still supporting all PS formats including PS2.
The PSP emu for PS3 was meant to be connecting PSPgo / PSP-4000 to PS3 via bluetooth and play via DualShock / Sixaxis so PS3 would just transfer the audio and video.
Only 'emulating' parts would be allowing PS3 pad control PSP game but calling it emulating it's really nonsense."
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Right now only Minis work on the ps3. Most likely PSP games won't run on PS3 itself until they retire the PSP or when the rumored PSP2 is released, and even that is unlikely since the PSP2 would probably have BC with the original.