Here's what the ps3 will be compatible with since you didn't know.
Blu-ray Disc format--including that format's BD-ROM (read only), BD-R (write-once), and BD-RE (rewritable) discs. SACD, DVD-Video, DVD-ROM, DVD+R/RW, DVD-R/RW, CD-R/RW, CD-ROM, Audio CDs, and Dual-Disc. Also backwards compatibe with ps1 and 2. There is word that the x-box 360 does have some heat issue's.
Here's a good link form PC World mag on the PS3, it's also 1080(progressive compatible) so it shouold have incredible graphics on a 1080p HDTV. The word is that it will surpass anything on the market at it's release, even top PC systems won't be able to match it's gaming ability. Nvidia says until they release their next updated pc units.LINK