I've used this on my PS3 since day one, but you still manually are turning on/off the PS3 and when you get into the PS3 specific commands (triangle, x, square, circle, L1, L2, L3, R1, R2, R3) buttons, they can be kind of weird to be accurate on the remote.
Harmony has a IR to Bluetooth adapter which supports all 51 PS3 commands which is a very potential option.
Still, the price of a PS3 vs. a BDT220 is pretty significant... and you have to add something to make it work with a universal remote.