QUOTED:

"Look what some one found In the configuration file of the PC Demo of Bioshock: there are some notes for the interested about the game engine configurations options and there"s a little topic about consoles.
[Console]
;; Console (XBox360, PS3) specific settings

;; StreamingDynamicFloatingLimit:
;; If this is a positive number, then instead of using the fixed per-level
;; limits, the StreamingDynamic resource will use as much memory as is
;; available as long as the total memory allocated by the game is less than
;; the specified number. In other words, StreamingDynamic will grow and
;; shrink to fit to the available memory instead of being locked to a fixed
;; budget
StreamingDynamicFloatingLimit=500

You"ll find this under Program Files/2k Game/Bioshock demo/Content/config.ini , just open the file with notepad or wordpad . Good news for ps3 fans although most already assumed the game was coming."

Please check for yourselves...