You'll want to start by preparing the PS3 for the install. Some users have reported no problems with either step, so your mileage may vary, but if you get stuck, just start over and try again. The PS3 can sometimes balk at two separate steps in the process: running the bootloader, and installing the right version of the Fedora distro. Now, the only difficult part of this install is that you may have to try it a few times before it actually works.
The company seems more than happy to allow end users to extend the power of the large black video game console, and it's a bit of a snub in the face of Microsoft (which as locked down the Xbox 360 so tight that no one has figured out how to easily install Linux to this day) that installing Linux is a simple menu option in the console menu and a reboot that enables you to install a distro. Installing Linux on a Playstation 3 (PS3) is easy, and it's actually supported and encouraged by Sony.
