I started on my PS3, got to 50 in a week using the PS3 and had but only two issues:

1. high traffic fates with mobs not loading (SE needs to adjust loading so it is party > mob > others for both pc and ps3)
2. few issues where party members kinda go invisible in dungeons and needed to use return to fix the issue each time

Are the graphics great? well for the ps3 limitations I say yes.

I have now also setup bootcamp on my mac and started playing the PC version. now I can see the graphics are much better (I personally turned them down for optimal performance), Standard laptop settings are very similar to what you get on the ps3, just with more people/mobs showing on the map. I will continue to use my ps3 for some things, and it meet the expectations of what you can get given what a ps3 has.

The other big advantage of the PS3 is it has constant fps, on my mac while my average fps are higher, when things get a bit crazy they drop lower then I would like, and this does not happen with the ps3.