Does the PS3 have the same issues as the 360 in terms of text in some games being really, really small? I've noticed on some games on my 360 (standard def component cable on a 32" Sony WEGA CRT) that the text is sometimes very, very small and pretty much impossible to read unless sitting right in front of the TV. I believe I read the same thing about some PS3 games as well but just a heads up for you to look into also.
I'm going to get an HDTV by Christmas.