Did You Know? Converting PS1 Saves

One of the oddest facts I have discovered since I first bought my PSP that it's actually possible to convert your old PS1 and PS2  saves so they work on any Playstation including PS3 and PS4 and let's not forget the PSP. I don't know all the facts and I am hoping someone fills in the gaps before I buy a PS3. But it seems from all that I read, all you need is a Memory Card to USB adapter and a PS3. Which has a built in program that can convert the saves.