As someone who started playing FFXI in 2004 on the PS2, here are my feelings on the matter.
For starters, the PS3 version handles FFXIV very well if you know the limitations of the PS3 hardware. The game is stuck in 720P which is just fine for any other PS3 game you have in your library. Uncharted, Dragonage, Skyrim, Call of Duty, etc. Loading between zones can sometimes take longer than you like, but again this happens on all PS3 games. The texture pop up is common for the PS3 in games like Mass Effect, Skyrim, Borderlands, etc.
After spending all of Phase 3, Phase 4, and now EA on the PS3, I'm happy with the console version. Is the PC version better, no doubt. But if you play PS3/360 rpg's, you're not going to be disappointed by the performance unlike FFXI's PS2 port which paled in comparison to either FFX or FFXII in terms of graphic fidelity. The PS3 version is superb for the limitations of the hardware. Fates are my biggest gripe right now with the PS3 version as npcs don't always pop fast enough when the zone is packed, but that's about it. FFXIV normally runs every zone well at full frame rate again with the exception of those crammed zones.
The people complaining about the PS3 version aren't being honest. The graphics are great for a PS3 game. The PS4 version will feature a PC port and will resolve all these issues I've addressed in my post. Like I said though, only the lag/minor drop in frame rate typically around Fates are a problem for me. I was very impressive how awesome FFXIV ARR runs. Frankly it runs better than almost all 3rd party Ps3 games. Borderlines 2, Skyrim, Mass Effect you name it...
I have no problem at all playing the PS3 version despite any of the shortfalls of the platform.