Yep, 'tis true. I have Play TV from the UK and it works perfectly but it cannot pick up SBS (though this can/will be resolved with firmware updates once it's out in Aus). It's one of those purchases that once I got it, I with I had bought it a long time ago!!
PlayTV comes out here in Sept I believe, and it's a twin tuner HD recorder.
I also use my PS3 as an entertainment hub, I stream everything to it from a NAS, use it for games, DVD'd, BD's, video calls to family/friends, i-net browsing... I can't remember what I did without it!