Kind of shocking right? I mean not the PS2 emulation we knew that was coming, but Dreamcast? This info comes from what appears to be a leak of a SEGA meeting.

SCEA Meeting Aug 5th Notes
Aug 6 2009 ? DRAFT FOR COMMENTS

Sony PS3
SCEA reiterated plans to sell 13 million PS3s this year
Big announcement back half of year they can’t talk about (potentially price cut of PS3 to reach hardware goals)
Motion Controller
Spring 2010 launch (March in JP)
Yakuza
Could put Japanese games directly on PSN for download in a special Japanese Import section (pricing $9.99 to $39.99 for full game).
Valkyria 1937
Could bundle with PSP as well.
Sonic Anniversary
Could put out collectors edition with all old sonic games on one BD disc.
PS2 emulator for PS3 (confidential)
SCEA wants to sell all PS2 titles on PSN (GTA Vice City/Sonic/etc)
For co Marketing money show PS3 controller on TV ads ? similar to EA Madden Spots, NCAA, etc…
DC Digital Titles
If we provide a list of DC titles SCEA will let us know which ones they’re interested in having exclusively.
PSP Titles
For SKU differentiation it’s best to offer features that are slightly different from PS3 version.
Titles that are coming up on PSP are Assassin’s Creed II, GTA China Wars, Resident Evil, Little Big Planet ? all massive franchises.

Though the question has to be asked why keep denying cool things? Are they afraid Dreamcast and PS2 sales will dip?

Source: http://blog.livedoor.jp/htmk73/archives/260775.html