Removing the PS2 GPU was all about reducing costs, lowering prices thus increasing sales and in turn to make a profit. This is exactly what it has done, think PS3 sales are up something like 97% from last year and the Games Division has made profit in 2 of the last 3 quarters. If my 60Gb stopped playing PS2 games would i be bothered? not one little bit, i played three PS2 games on it at launch but not played one since last year. The reason you buy a PS3 is not to play PS2 games is it? if its such an issue keep your PS2

In the end this is all about HDD size not functionality, you still got the 80Gb PS3 for £299 and this for about £350-400. Even though the HDD is easily upgradable, for the general consumer its probably something they would never do so it looks a good deal.