I haven't looked at Linux on the PS3, but if it really is a hypervisor....
Breaking through the hypervisor to get to the 3D hardware? Yeah, that'll happen anytime... :-)
I'm sure geohot is good, and he can probably get Linux running after they "disable" it, but you'd need a new hypervisor for 3D.
Unless Sony's hypervisor already supports 3D and they just haven't provided a driver..
doubtful
desiv