It's looking like that for a lot of people. I will wait and see what happens up until the BF3 release.
Got a mate down at Gamefest today and he says that BF3 looks awesome on PS3 and plays really well.
Bit of an update. Just been posted on facebook that 1.03 patch will be released today, doesn't say what time though.
Patch Size - 22mb
Edit - Servers seem to be down at the moment so can't report back on any changes yet.
Framerates have been fixed for me. The game is still bad because most of the time I'm ending up in games with americans or against people who are level 40+ and getting spawn raped. Still not good enough for me and looks like a trade-in.