Hi,
Fedora 12 was released this week. Unfortunately, due to an increase in memory usage of anaconda the Fedora installer program some special procedures are needed to install it on the PS3.
I made a new howto note 'PS3 Fedora install HOW-TO' that describes how to install Fedora on your PS3. It make take some time to reach the mirrors though:
http://www.kernel.org/pub/linux/kernel/people/geoff/cell/ps3-howto/ps3-fedor...
Please report any additional steps needed or problems faced when installing to your system.
-Geoff