It might seem pretty expensive for a preowned ps3, but the 60gb ps3 supports backwards compatibility, and preowned 60gb ps3's can sell upto $1200 on eBay!!!
the 40gb and and the new 80gb cant play ps2 games, due to sony stripping off the emotion engine to make it the console cheaper to manufacture.
But first, check availibilty, because many people dont usually trade in their ps3s…
Looks like it depends which 60GB model you get as to whether or not it has the Emotion engine:
http://en.wikipedia.org/wiki/PlayStation_3
According to the Wikipedia page, if you have a 20GB or 60GB model that is NTSC version (we have PAL in Australia), then it will have the Emotion Engine. None of the Pal versions seem to have the Emotion Engine… the 60GB PAL version has software (emulation) only.