They should scrap the PS3 version.

[Reynhart]

They are already expressed concerns with the limited memory on the PS3 just getting the first ARR version up and running. It does not bode well for the future of the game already as now they are forced into a parity with the PS3 in this area. I fully expect simple re-textures and recolors of current gear when adding future gear now because of this, just like with FF11.

Memory limitations is why zones are split into smaller parts, because PS3 can't load a whole region in its RAM.
If you think animations will be the problems, you're deliberately forgetting that FF XIV has very few different animations , especially compared to some offline games...that run perfectly on PS3.

The numbers of characters on screen will also be fewer on the PS3, but it isn't really an issue, cause you'll never have hundreds of mobs and players anywhere besides towns where you don't need to be focused.

EDIT : By the way, everybody remembers the "Sorry, no new animation on FFXI because of PS2 limitations"
Guess what...we've been treated new weapon skills with totally different animations...and the PS2 can display it, what a shock !
Without even considering all the new designs for armors and monster that we had throughout the years and still have with the next expansion.