Quote Originally Posted by Harrison
Are the virtual cards created with the same amount of space as the originals? 15 blocks for PS1 and 8MB for PS2? or can they be creating in different sizes?
No, they're just the standard 15-block/8MB ones. But you can create as many as you want. And then you just choose which to assign to which slot. There's a Memory Card Utility in the PS3 Menu that does the job, and does all the managing of them. Once created you can manage them just like you could with the real ones, browse them, copy saves from one to the other and so on.

I haven't needed to, but needing to change cards while in-game may be a problem. I'm not sure if you can do that, or have to quit to the PS3 menu in order to do it. Will have to check.