The package files are pretty big, so it's taking a while to download, and it will likely take a while to install them on the PS3, but I think it'll be worth it. It looks really amazing from what I've seen in videos.

If you wanted to start getting your PS3 ready for game setup, I'd recommend doing it now so that it doesn't take so long. It takes 30 minutes to an hour to get everything setup on the PS3 just to get things ready, and that's without the packages, which take a few hours to download. Having everything downloading/installing at the same time could speed up the process. Here's the instructions for PS3: