PS3 game data

[Niwashi]

Actual characters and progress are saved on the servers. I have heard that some option settings and even features I wouldn't have expected, like gear sets, are saved locally, though. You might have a bit of that setup to re-do.

[LordWyrme]

Gear sets, appearances and other little things are saved wholly on the actual console. But without actually breaking into the save data or the game data due to not having dev tools, I couldn't tell you for certain. ^_^