Recently Gentoo Linux (usable on PS3) was released, and those interested can grab the LiveCD iSO [livecd-ppc64-beta.iso, MD5: c9cfe5cef68e421591ed855d61c201fe] (or from one of the mirrors in /experimental/ppc64/livecd/ or similar) to check out! The image contains a full Gnome desktop as well as Firefox-2x (Bon Echo), Audacious, Xchat, Gaim, Evolution, Gimp-2, and soon Thunderbird is said to be added in the near future. For PS3 users, the LiveCD contains a kboot.conf file which should allow you to boot the LiveCD. Choose the label that most closely matches your TV's resolution. This is an area where future enhancements are planned. Finally, sound should be functional, however, you'll need to unmute the master channel with the alsa-mixer application.
In related PS3 Linux news, if you haven't done so yet- be sure to drop by http://PS3.PS3News.com which is our ongoing repository for PS3 information and also our Homebrew PS3 Utilities section which contains useful PS3 applications, documentation, emulators, and Tutorials.