Hi. I'm going to disagree with my friend above.

Well, potentially.
Receivers do not require you to use an HDMI output in order to get audio from an HDMI input, so you could use HDMI for audio only.
I don't know if all PS3's have this (mine is two generations old), but you can likely select in the PS3 menu the option to output audio over HDMI and video through component. I recommend that you check that out first in your PS3 menu to see if you can do that before buying a new receiver. If it can do that, then you should be good to go.