You may get some lectures on Bose... if you're happy with it, ignore the people.
In this instance, I would probably recommend you look into the
Bose VS-2 video enhancer. It should plug right into your Lifestyle system. It will allow you to use HDMI and since the PS3 decodes, you should gain access to Lossless audio... Are there any Bose stores near you where you can check it out?