Heya Jlew, I could totally be off base here, but you might need to change the partition map for this to work. I just picked one of these up and they come apple partition mapped. Assuming you have an intel mac, you want to make it GUID if you don't want it to sleep every 10 mins while connected to your mac. As for the PS3 compatibility, I kinda think you need it to be MBR, but I'm not 100% sure.
Just wanted to bring the above things up, so some other users might be able to shed some light on the correct partition map to use and to potentially save you some time and hassle. HTH a little...