I can definitely consider your theory on the graphical settings to be within the realm of a realistic reason.

Regarding your theory on the latency limitations of the game via the console however, I just don't quite see why the configuration of ones personal network in relation to the general ISP and to SE would cause he issues. In my experience in the computer service industry, a network has only ever been as strong as its weakest link. If there is a bottleneck somewhere in the chain of communication, then it leads to an overall dissatisfying experience. Given my current configuration (I'm a network technician) and the lack of any significant problems with my ISP, I'd have to believe the issue to be related to either the specific network adapter specifications of the PS3 or a bottleneck in SE's server-handling in regards to PS3-associated access to and from PS3 players. A PC on the same exact network loaded the exact same cutscene more than 2.5x faster (I ran a little experiment since I have a license for both PC and PS3). What do you make of that? It made me believe the above stated.