I assume your PS3 is installed with Fedora Core 6 or ydl, and X Window/KDE/gnome (optional)
Download http://rpm.livna.org/livna-release-6.rpm and type
$ Rpm-uvh livna-release-6.rpm <enter>
This will install VLC repository to your yum database.
Goto/etc/yum. Repo. D, make sure in fedora-extra.expo, [Extra] section, enable = 1. If not, change it to enable = 1.
$ Yum install VideoLAN-client <enter>
Then wait a couple of minutes after answering "yes". After installation is completed, you can find VLC player in multimedia menu.
Then open control center, navigate to sound, choose open sound system as your sound device. And click Apply to enable it.
And that's all! Avi, MPEG, MP3, even MKV files will do!
TIPS: If you find sound is weird, close VLC and restart it often fix the problem.
tips2: If you want to play streaming media from network, a general HTTP server will be sufficient. of course if you want to use it via a Windows File Service (SMB), VLC also supports it.