There are two things. Points, which is like the in-site currency. And Referral Cash, which is real paypal money that you get if you refer someone. Now, you can transfer Referral Cash to Points. Unfortunantly, you can't change Points to Paypal cash. Points can only be used to get stuff on Amazon. Moreover, you can't use points to buy like Amazon Gift Certificates or anything. You can use Referral Cash to buy Amazon Gift Certificates, transfer to your paypal, or transfer them for points.
If you're looking to earn a PS3, you'd have to do some paid offers (probably), or get a lot of referrals to make up for it. Or, if you just want to use the site to buy Games or stuff like that, this is definitely in your quick cash range. Depends really how long you use the site.