The Westinhouse has one HDMI and two DVI's which are basically HDMI without the sound in the same cable. On the westinghouse both the HDMI and DVI are HDCP so no worries there. So the monitor already has three next gen ports.
You can always buy an HDMI to DVI and vice versa also there are several HDMI switchers coming to the market and some have been around for a while. My advice it you want to have a good sound and video get an a/v receiver with some dvi or hdmi.
So to break it down you can have the PS3 plugged into the HDMI, and cable/satellite receiver box to the DVI (with an HDMI to DVI cord that is) and have another device that uses HDMI or DVI for the remaining DVI port. Or you could plug everything into an a/v receiver and then into the HDMI on the westinghouse.
Does that answer you question?
Now back to the color and gamut.