Forgive me if you've already solved this. Sounds to me like your unit is feeding 2 of 5 channels to the two speakers in your TV. Movie dialogue (as well as major portions of the rest of the sound track) is directed mostly at the center channel. If your TV is only receiving the FL and FR portions of a soundtrack, it will be far lower in volume than expected. Can you change the 5.1 channel source setting to 2 channels? I'm not sure how to do that in your particular setup, but low audio output over two channels is often due to mismatching of output modes. Are you using an AVR or other component between the PS3 and the TV? Are the PCM settings you mention from your TV or the PS3?