the blu ray disc wasn\'t encode in Gbps, the maximum bitrate was about 54 Mbps and that\'s still heavily lossy compression, but the video will be upconvert to uncompressed, and that can mean anywhere in Gbps, depending on the color depth and frame rate for processing and to prevent consumers from making illegally copy digitally.
It seems like PS3 HDMI does indeed support the latest 1.3 version, and videogame does runs at uncompressed rate...