11 Nov, 2007
Progress is being made on video playback for the PS3, and we now have .debs for a PS3-patched MPlayer for PSUbuntu.
Follow the instructions on nomegos Optimizing the Ubuntu PS3 experience page, and you should be able to watch videos with better performance running the command
mplayer-ps3 -vo ps3 -fs filename
from the terminal.
Forum thread
23 Apr, 2007

The new beta release of handbrake has been made and the new version has included PS3 video support. The following is taken from the FAQ on their website.
What is HandBrake?
HandBrake is an open-source, GPL-licensed, multiplatform, multithreaded DVD to MPEG-4 converter, available for MacOS X, Linux and Windows.
http://handbrake.m0k.org/?p=48
See the PSUbuntu forum discussion thread.