Do you have a lot of PS1 and PS2 games? Don't go off buying PS3 just now...

The new Playstation3, launched in Japan on Saturday, is supposed to be compatible with game software designed for its previous models. However, it does not run some PlayStation and PlayStation 2 software titles properly, so don't buy it just yet if you have quite a large library of the previous Playstation versions games.

According to Sony, sound is eliminated on some software titles when played on the PS3, while some other titles do not play on the latest machine at all.

Source: Reuters Tech News