Yeah. I saw no real reason to hook a ps3 to the computer unless your using that to record yourself playing or something like that. And you can't use a VGA to DVI-DVI to HDMI cause thats going from analog to digital. So converting the cable is a messy bandwidth situation.

Make sure the new monitor has all the correct inputs. DVI VGA HDMI that way you can press a button on the monitor to switch between which input you want to use. One will be on the computer hopefully DVI(monitor) to DVI(videocard) other HDMI(monitor) to HDMI(ps3).

My 3 year old plasma (thats right plasma lol) monitor has DVI VGA Composite and video-S. Only rant about these types of multi input monitors i have is.. "WHERES THE FUCKIN PICTURE IN PICTURE BITCHES?!" Thats right.. wish i could watch some TV and have a picture in picture of my torrent downloads."

The sound will be fine.