Youre assuming the textures will be a lower resolution than they are now. If they are using the same texture files that we have now, it wouldnt make sense for them to just delete them all, and then have us download lower quality textures.

More likely the game will be using less intensive lighting effects, rather than lowering texture resolutions. There isnt a doubt in my mind that the PS3 version will be using lower resolution textures (on at least things that arent characters), but there is absolutely no reason to scrap the countless textures we are already using, and then have us redownload lower quality ones all over again (costing them bandwith/money), just because the PS3 doesnt have enough memory, or a good enough GPU to use those textures.