The graphics engine is locked where it has been since PS2 launch. You'll never get better than 30 FPS and won't be able to get improved textures until they ditch the PS2. Maybe it was a good idea and a great system at the time, but consoles don't age well with MMOs.

They aren't likely to redo the entire game to make it truly PS3 worthy. They refuse to even do a good job of getting it to run on PCs. It's just a very half-assed emulation on PC.

While I applaud the work that SE has finally started doing in the game (dealing with RMT, taking care of problems, adding content) after years of begging, they still haven't really tackled the issue of how badly it runs on PC. At least they are finally addressing PC users concerns about windowable play.