Hello!

I'm buying a new monitor for my computer and I wanted to know if there was a way I could display my PS3 on this monitor as well. Would my monitor need to have VGA or DVI or what? Where would I get the necessary cables and assuming this monitor doesn't have speakers, what would I do about sound? xD

Also, I want to have the monitor display in 1080p, which I figure wouldn't be hard. But yeah, I'm sorta clueless.

Any halp?

I'm pretty sure your monitor will have to have either an HDMI or a component(although it is unlikely you will find a computer monitor with this input) input.  As far as I know, the PS3 doesn't allow you to convert HDMI into DVI or VGA. 

For sound, you can simply use the AV cable your PS3 came with.  You can have to PS3 output video from the HDMI slot and audio from the AV slot.

HDMI to VGA wire is probally the best thing. The PS3 has an automatic video setting which should give you the highest res possible then you can tweak it in settings to lower if you like (1080 i to 720p). Edite: Silent Wolf is probally right but I'm sure a web search can find you a creative to your problem.