Joystiq points out that Sony has updated their Playstation 3 site to dish on how one can transfer save date from a PS2 memory card to their new console.

It looks like the process will involve some sort of adaptor that will edit and move information to and from EMS flash cards or smart media cards.

Here's their official explanation:

To use saved data on a PlayStation 2 memory card, you must copy the data onto a virtual memory card within the hard disk. This requires a PS2/PSone memory card adaptor to copy the data to your PLAYSTATION 3. A memory card adaptor is designed to edit, up/download game saves to and from EMS flash card or smart media card.

About the PS3 [PS3]

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