Well, this is a completely impractical, if not roundabout way to watch Blu-ray movies on a Blu-ray player (in this case, our sexy lil' thang called the PlayStation 3... or big ol' thang if you want to be more literal) without the horrible inconvenience of actually loading a disc. This is done by converting the file into a regular MPEG via a PC and a copy of Linux (apparently).
There's way too much technical, programming mumbo jumbo for this ignorant blogger to even attempt describing the process for you. We'd like to refer you over to the Engadget article that has a great video tacked onto it that'll show you the process if you're that interested in trying this out. Some people have said this doesn't work -- I say it doesn't matter. I'd rather not clog my external drives with giant movie files, thank you very much.
[via big sis, Engadget]