I think he's bang on, although it's not exactly fresh news. Digital Foundary did a feature on this.
I think he's right regarding the Cell being an absolute bitch to emulate, look at the problems with the emotion engine...
It'd be a very easy way for Sony to offer some kind of BC without crazy hard emulation. But, as I stated the problem would be MS could potentially kill them with upscaling as I listed in a previous post (sorry about copy and paste):
"That would make sense, especially the GaiKai streaming for PS3 games…
Still, this could really fuck Sony up, if the 720 could play 95% of its old back catalogue in 1080p and at 60fps, and Sony could only muster shitty streaming at 720p for the PS4, it’d be a clear disadvantage.
The only thing stopping MS would be if they wanted to cash in on HD remasters on 720 although I don’t think they would be that stupid.
If they could show GTA 5 running upscaled to 1080p on 720 at E3 next year, people would be throwing money at them.
That would mean you could have a few launch titles to show off and a huge back catalogue.
I expect MS will coincide the launch of 720 with a new COD, MW4 or whatever with huge exclusive features. Elite on smart glass etc…
That could make sense heading for a Nov 2013 launch, it would also fuck Sony and Nintendo up in a BIG way."