I spoke with Intel and they say it should be fine if PS3 recognizes the SSD. Since it won't do TRIM, they suggested I format the drive once a year. I plan on swapping the drives and find out if PS3 will recognize the SSD, hope it does. The reason this idea appeals to me is SSD will be silent and run cooler, the latter would help with fan noise from PS3. I will update this after swapping drives.
Just to let you all know, the SSD works in PS3.