"new PS3 (40GB model / CECHH00) standard PS2 software will work you."
"We've checked around various sites and discovered that there appear to be two main changes included in PS3 firmware 2.17. The first, as noted by commenters below, is that the update improves the operating stability on some online PS3 titles.
The second, which we found on the the Japanese PS3 website, appears to be related to the PS2, as the Google translation reads: "That can be installed to hard disk PlayStation 2 has been added to the standard software." If you happen to have a firm knowledge of Japanese, and want to translate for your fellow readers, feel free to visit the source link we've added below so you can take a look at the original Japanese text."
http://ps3.qj.net/PlayStation-3-firmware-2-17-out-now-Update-/pg/49/aid/115786
http://translate.google.com/translate?hl=en&langpair=ja%7Cen&u=http://www.jp.playstation.com/info/support/sp_20061111_ps_ps2.html