i'm using my Samsung 22" PC LCD monitor to play my PS3 now, i bought a HDMI-DVI converter from ebay for less than RM40. My sounds comes from my 5.1 pc speaker via the optical out from the ps3. I'm using an Abit motherboard on my pc, Abit motherboard usually come with a Optical in and it decode by software to play 5.1 sound. so far soo good. Optical cables can be bought from ebay at reasonable prices compare to those offered here in Penang in my case. An toslink optical cable you might get at a price of below RM50 from ebay. I use to play on my living room LCD tv full HD = nice....but  grandma want to watch this, mum wants to watch that ....just too tension. Bloody hell its my TV...but what to do!

if you choose to get that then you will need to invest in a HDMI cable just extra cost,  try getting a HDMI- DVI cable. Get it from a Hng Kong seller so it'll take roughly a week to reach you.
again i stress don't get it from US seller it will take min 3 weeks. GEt from hong kong seller.

I don't see why it shouldnt work, provided the monitor is HDCP ready. if nothing shows up on your monitor when you plug it in, switch off the ps3 and give it to me for free press the button for 2-3 seconds and you will hear a beep which means the ps3 will reset to defaults. Make sure only the HDMI cable is plugged in when you do this.

yeah it will work no prob. expert_acc in e-bay is a good seller.