This thread makes me want to buy a PC... Bah...
That being said, I don't think it will look that bad for PS3. I just need to make sure I never see what it looks like on a high-end PC and I'll be fine :p
I built my computer for FFXIV 3 years ago. It cost me $750 so I built another for my gf to play. This PC was able to play the original at high settings, and I can play the beta at very high (I of course am speaking only about Gridania and Character Creation.)
Still, I'm going to upgrade the GPU so I can max the settings, but a "Great" GPU is only like $200 now. I built this computer with no knowledge of building, just bought a refurbished computer from Newegg that had a Quad Core processor for $400, then upgraded the Power Supply, RAM, and Graphics Card for an additional $350.
I still bought the PS3 version though.. Trophies, sitting on the couch, and ease of transport to a friends house to have super awesome WAN parties... couldn't resist.