Just got a Playstation 3 with the recent price drop and blu-ray offer. As a media center, up-converting DVD player, and Blu-Ray player it is really fantastic. And the constant wireless internet connection makes firmware updates very easy, which frequently add great a/v features like forced 24hz output for Blu-Ray (in the most recent patch). My impression is this is a serious piece of A/V equipment, even if you only play games now and then. (much more so than my xbox 360). Very much looking forward to an Outlaw HDMI pre/pro to match my 7125 so I can get PCM / lossless audio out of it.

The next generation Outlaw products should have the HD Audio decoding. Then should your Ps3 support the HDMI 1.3 , you will have your fun.

I use my Ps2 via Component cables and I use the PDO optiocal cable. I like to play G-d of War and G-d of War 2.