Gamegeeknews has some nice news about the media capabilities the PS3 might have. Here we go.
* PS3’s hard drive is not intended to be used with games. It’s intended to be used as a mass storage device to compliment the PS3’s multimedia funcationality and to enable it run other operating systems like Linux and OS X.
* With the hard drive and an additional peripherial, the PS3 will be able to store television shows and offer Tivo-esque capablities.
"PS3 a full functional TIVO?" - 05.04.06