Even if they could by some miracle get the JVM actually performing fast enough to be of any use in the tiny amount of RAM the PS3 will sport... they wouldn't be telling us, in here.
Not that I think Sun is going to create a JVM on it, but 256MB is enough for many fun java games.
JEmu2 running Street Fighter 2 would be easily possible on PS3
A while back, as an experiment, Shawn Kendall got an FPS in Java at about the sophistication level of Quake 2 running in 32 meg.
Now a big aprt of that was the last genreation of paltforms stil lahd pretty limited resolution and vdieo memory so the textures tended to be scaled way back. The next gen, that are all supporing HD-TV, we may lose that space advantage over the desktop...