The next-generation Sony PlayStation 3 is a graphical powerhouse with an impressive array of extra features

Sony has stated that the PlayStation 3 will have backward compatibility with the PlayStation and PlayStation 2, and that every PS1 and PS2 game that observes its respective system's TRC (Technical Requirements Checklist) will be playable on PS3 at launch.[1]

At the 2006 PlayStation Business Briefing, SCE president Ken Kutaragi asked developers to adhere to the TRC to facilitate compatibility with future PlayStations, stating that the company was having some difficulty getting backward compatibility with games that had not followed the TRCs. "Either it's accidental or on purpose; there's actually a lot of games that don't follow the TRC."[18].

Contrary to previous reports that PlayStation 2 emulation would be accomplished through software,[citation needed] the July issue of Japanese magazine Ultra One reports that the current design of PlayStation 3 includes the core PS2 chipset.[19]

The PlayStation 3 does not include interfaces for legacy PlayStation devices such as the DualShock controller. It is not known at this time whether USB devices for PlayStation 2 will be compatible with PlayStation 3.

As of March 2006, there are already over 230 PS3 games announced by multiple developers and publishers, like SCEI, Electronic Arts, Konami, Namco, Ubisoft, Capcom, Square Enix, Sega and many others. As well as announced titles there are likely to be many 'secret projects' already under development.[citation needed]

At the E3 2005 Press booths, Sony showed some pre-rendered and some real-time videos of games in development with the codenames Eyedentify, Vision Gran Turismo and MotorStorm. Also shown at E3 was a Final Fantasy VII technical demo of the opening sequence remade for the PlayStation 3 system. Tetsuya Nomura, director of Final Fantasy VII: Advent Children, said he would like to remake the game for the PS3 once his other projects are completed. A Canadian electronics store (Futureshop) has priced each game at 74.99 CAD, prices maybe subjected to change.