PumpkinSpice
Banned
Get a cheap PS1 or PS2 for starters. PS3 only does PS1 software emulation with added lag and they're incorrectly presented at 480i.
Going by your TV's manual, get a Playstation S-video cable.
PS3 should be outputting 480p or upscaled to 1080p (with more lag) depending on settings. The added latency isn't really that big a deal in most games, unless you're trying to play a time sensitive platformer or a fighting game.