They say it is possible. Check it out. http://hardware.gamespot.com/Story-ST-15015-2723-4-4-x

Maybe in the future

Going to need to real good Tv's for that.

Why I said the future...

depends on what kind of game youre playing really!

Not sure what value you get out of 120fps. People only see at a certain frame rate anyways, so anything faster than that is not terribly useful as far as I know.

I think having a stable frame rate that never ever ever drops below 30fps no matter what is happening would be a more admirable and worthwhile goal.

120 FPS is, for the most part, unnecessary. While the human eye can detect differences, they're so small that it's not that important.

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Well... it is a little unnecessary, but you have to remember that the "max-frame rate" will only be reached by games that are extremely low-graphics intensive. For the mostpart, the high "max" frame rate will just serve to allow game developers to add more and more detail to their game environments while keeping the gameplay at a decent pace.

This newly raised ceiling really gives us a picture of how powerful the PS3 is going to be and how much innovation and "upgrades" game developers are going to be able to integrate into their new works on the system.