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To utilize the screen? You can get an Elgato tv tuner and use that. I have a friend that plays his games through his tv tuner, works well and saves on having extra screens.

http://www.elgato.com/
 
The EyeTV is okay for porting TV or cable onto the iMac, but with the PS3 you end up losing so much resolution that I'd suggest buying a 24" hdmi-capable LCD monitor (200 bucks on newegg.com), rather than shelling out $90 for the EyeTV.
 
If you meant use it as a monitor, i wouldn't recommand it.

If you meant streaming, i can recommand: Rivet
 
no problem.. i was hoping to help at least one person.. :D

Hey BlueToothTony, this sounds awesome! Can you describe a bit more your experience with this? Currently I have an Apple TV and it's a PAIN to convert all my movies from MKV format or DVD format into the MV4 apple format.
Will I really be able to stream all my movies without conversion anymore?
How's the performance?
 
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