PS3 filesystem reformat to accept files >4GB?

I assume the answer to this is going to be a very simple "no"

The filesize limit of 4GB is starting to annoy me on my PS3, as I use it as a media centre and have some very large HD video files. Most of these are in the 7-10 GB range, which means I need to split them, as the PS3 filesystem can't use files >4GB in size. Apparently it's a proprietary filesystem similar to FAT32, but isn't FAT32.

I know people have some weird things like installing Linux and other OSes on a PS3, and I think there is even a menu option to back-up the PS3 OS and install something else, but can the file system be changed (and the PS3 OS reinstalled or kept intact) so it will read >4GB files?