This is what Sony said about backward compatibility on their press conference at E3:
Ken Kutaragi has said this will be achieved through a combination of hardware and software but haven't given us the technical details yet.
The xbox 360 will require a HDD for backward compatibility because xbox1 games require a HDD. That't not the case with PS2 or PS1. I only know of one game which require a HDD on the PS2 and that's Final Fantasy 11 so I wouldn't expect that game to work without a HDD if at all.
Ken Kutaragi has said this will be achieved through a combination of hardware and software but haven't given us the technical details yet.
The xbox 360 will require a HDD for backward compatibility because xbox1 games require a HDD. That't not the case with PS2 or PS1. I only know of one game which require a HDD on the PS2 and that's Final Fantasy 11 so I wouldn't expect that game to work without a HDD if at all.
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