Will this work with my ps3?

[gand41f]

Try to find one without the DVD/CD player, you already have a PS3. If you look around, there will be a sub-$200 5.1 system with receiver and 6 speakers. Make sure it has an optical in. (Coaxial digital won't do any good for you since the PS3 doesn't have a coaxial digital out.) They won't be great, but with that budget, you can't expect much.

The Fry's around here have 5.1 systems starting $299 and up. Sometimes the $299 will do down to $199 on sale. That's when you need to get yours.

enjoy
gandalf