As to whether it's online or not, according to amazon you can play psp and ps2 owners
In a nutshell:
The most exciting Formula One season for a long time has spawned a console simulation to match with long awaited new online modes and some surprising PSP connectivity options
The lowdown:
Owning the official FIA license means this game is the only one with all the real 2006 drivers, cars, teams, circuits and rules but thankfully theres more to this game than dull simulation. In fact this years iteration prides itself on being accessible to everyone with scalable driving aids for every skill level. Theres also a new online version for all versions, where you can compete in a full 18 race season with real human opponents. Other welcome new additions include taking the options of playing as chief engineer through the existing career mode and more subtle change such as computer driven cars that make believable mistakes instead of just robotically keeping to the racing line.
Most exciting moment:
Since the PS2 and PSP versions are coming out at the same time youre able to transfer data between each, you can even race other players online on the other version, no matter which console theyre playing on.
Since you ask:
Although little is known about the PS3 version of the game so far Sony has demonstrated a way to connect the PSP to it and use the portable console as a fully interactive wing mirror displaying exactly what is going on behind you in full 3D.
The bottom line:
The PS2 and PSP are in pole position for this welcome racing update.
HARRISON DENT
http://www.amazon.co.uk/Sony-Formula-1-PS3/dp/B000E6DYYE