The Radeon HD5870 is capable of playing most PS3 games with higher detail, more advanced effects, at well over double the resolution at a frame rate that is 3 to 6 times what the PS3 does; and even the (roughly) $100 Radeon HD4770 would probably get 4 to 6 times the frame-rate of a PS3 game at a similar resolution and detail level.
While there may be some limited effects that the Cell processor may be able to aid with and achieve better results easier than it is possible on the PC currently, a modern mid to high end PC is so much more powerful than the PS3 today that any wide comparison between the two will turn out poorly for the PS3.