Wait chat is not supported but sound is... Correct?
Yes sir, they use optical/toslink to receive audio so you can actually use anything with an optical out port on the back of it including a PS3. The chat portion is the 360 exclusive part but according to their website towards the right with PS3 in red if you click on it, with an adapter you can get PS3 chat audio through it but it'll cost you some extra cash.
Edit: If you get this and plan on using multiple devices with this btw, give this a try so your not plugging things in and out when switching devices. It's worked for me and has lasted years, you still have to get up but meh.