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I get to analyze video frames and experiment with bit-rates as part of my job so I have a really trained eye for this stuff. Most variable video bit-rates I've experienced with PSN 1080p store downloads hover around 18mbps - 25 mbps. Don't get me wrong, it still looks very good, but compared to a 1080p blu-ray with bitrates in the 35mbps - 50mbps range the difference in quality can be quite staggering.

Congrats on your new PS3 slim this holiday. Let me know if you notice the difference with 1080p Live next month.