If the game is CPU bound on PS3, does that basically mean it's PPU only?
No, not at all. A lot of graphics processing is done on the GPU. We do skinning, parts of the particle processing, shadowmap filtering and acceleration for the deferred renderer on the SPUs. At the end of the day, I think we have 5 SPUs running for a good 10ms per frame, depending on the number of shadowmaps, lightsources, and characters.
I really wished there would have been a few months more to optimize, but if I average it over the time the project ran, we had maybe two full-time PS3 programmers, for maybe 4 man-years of programmer time.
Still, I should have pushed less for 1080p and worked PPU performance more. Hindsight, 20/20, all that.