No on PS2 games unless you buy a second hand launch 60Gb model. The older ones from Watchdog that fry themselves. My brothers died this year
As for Linux OS, I believe it is possible on a Jailbroken PS3, but this will prevent you from joining online games as the firmware will be held at an older version. PSNetwork wont let you on unless it is the latest version.
The blu-ray player is very good and has the advantage that its firmware is upgradable by Sony so can respond to latest compression techniques (or something like that).