Again I ask, why is it significant that it will bitstream those codecs?
Edit: Seth should really learn to keep reading the thread before responding to a post.
Edit Edit: I seem to remember this topic that Glocksrock has brought up being discussed before. So in reality, bitstreaming is inferior.
Maybe this is one of those things that HDMI 1.4 will address, although it doesn't look like that will be included with the package of the PS3 slim.