A story about building a supercomputer with 8 PS3 computers that has the performance of about 200 nodes of a traditional supercomputer.
I did some work on this with the PS2, and while this is definitely possible, it sure takes a long time to code, there are lots of little ins and outs, so I would recommend you get your code running on a normal supercomputer, and then port it to the PS3, like this guy did.
One thing to realize is that the PS3 running Linux is going to be really slow because it has very limited memory, but for calculation intensive stuff like this, it's an excellent fit.