There's absolutely no point in buying this particular SSD for a PS3 since the console can't use SSDs effectively and only has SATA1 onboard. And yes, it will be super expensive, 10-15x more I'd say.

Dunno about that, I've got a WD Scorpio Black 320GB in my PS3, and it says it's SATA2, and it works fine. But yeah, I have a feeling it will be incredibly expensive.

It should work, just default to the lowest speed and so be largely pointless- I think...