Shall I get Vagrant Story y/n?
there was a picture here
As far as the memory card thing goes, it's because that feature is a part of the firmware. No sense having a different firmware just because the system can't do it. They just took out the hardware and specific (firmware-independant) software related to the PS2 so that it wouldn't recognize PS2 games that makes that memory card just a useless extra.
You could, however, use that feature to back up/manage all your PS2 saves, even if you don't use the games in that system.
I could maybe answer that best in the opposite - there's even a color manual you can access from a menu when you press the PS-button(on a ps3)/Home-button(on a PSP).
Basically, it's an emulator with some features. All of the games you download are the actual data from the discs you bought back in the day. Just you can access a menu to look at the manual, have save states (on PSP), faster loading in some cases (as well as a "fast loading" feature), and use smoothing on some games. The original Metal Gear Solid on a Standard-Definnition TV with smoothing turned on looks incredible.
The Memory Card transfer really isn't AS useless as it sounds. If anyone else is like me, and downloaded the PSN classics for PS3, you can transfer your save files from your PSX and PS2 memory cards onto your PS3, and access them from your downloaded games. does come in handy. It was nice to jump back into old FFVII or Twisted Metal saves, not have to start from scratch.
I hope they release Parappa the rapper. Oh the memories. that and the twisted metal games.
I'm about 90% sure Twisted Metal 2 was on there the other day.
Wikipedia confirms as released on PSN in '07