“I know the plays Blu-Ray but does it also play regular DVD’s? ”
Yup, the PS3 can play both Blu-Ray and Dvd’s, not only can it play your regular DVD’s it will also up-convert them to a higher resolution than a normal DVD player for a better picture but you will need a HDTV using the HDMI to see the results. Of coarse it’s not gonna look as good as Blu-Ray or HD broadcast but your DVD’s will look better than it ever did before so sit back and enjoy.