Sony announced that some of the downloadable PS1 games on the Playstation Network will play on your Playstation 3. The games that work on your PSP and PS3 are:
2Xtreme, Crash Bandicoot, Destruction Derby, Jet Moto, Jumping Flash, MediEvil, Rally Cross, Syphon Filter, Tekken 2 and WipeOut.
Similar to Japan not all of the downloadable PS1 games will play on your Playstation 3, Cool Borders and Hot Shots Golf 2 are missing from the list. Now that Sony is beginning to churn out PS3 and PSP downloadable titles the service has some value to gamers once they start releasing gems from the Playstation library like Um Jammer Lammy and Wipeout 3