There was no word in this news on whether texture smoothing might be used to improve PS2/PS1 games -- the PlayStation 2 had rudimentary filters to help run PlayStation 1 games with a cleaner look and with less load times, so it is hoped that we'll see some advancements with this new monster machine on the games everybody already owns.
Look for a test of PS3's backwards compatibility a long, long time from now. In the meantime, we'll be covering all of the PS2 games (and PS1 games) that you should be buying in preparation for this new Sony console. Oh, and obviously, to play and enjoy the hell out of in the meantime...