Here are a few different steps to lower the voltage of a PS3:
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Setting auto-off wastes power, because you should be turning the system off when you're done, not leaving it for 15 extra minutes.
Lowering resolution may decrease power consumption, but I doubt it. The ps3's main power drain is the cpu, and it's gonna do just as many calculations with high or low resolution. The second-biggest user is the GPU - and this MIGHT affect the gpu, but I figure it's doing just as much work high or low resolution - its going to do x calculations, either filling a big screen or a little screen. - test results to follow. Also, turning down your resolution, if you have a decent tv will make it look like crap.
One thing you CAN do is turn down the brightness - specifically backlight on your hdtv. Less bright = less power consumption.
Optical drive - removing disks when not in use is good, because the drive DOES spin up whenever it thinks there may be a need to read the disk. I am of the belief however that the blu-ray laser and dvd laser use approximately the same wattage - different media shouldn't make a difference.
Lastly - I've read PLENTY of accounts on the sony playstation forums of people having wrecked their systems by their account, 'switching the power off by the mains switch'...NEVER, EVER do this if the system is powered up. The ps3 does draw a few watts while in standby mode, so turning it off after powering down shouldn't be too risky, but I personally wouldn't do it unless I'm not going to play for a week. The shock to the system when turning back on isn't worth it.
Essentially - your instructible might as well read 'leave your ps3 in the box, and don't use it.'...
One thing that comes to mind - the ps3 is a 100-300 watt behemoth (Depending on model). When you have a ps3 and a dvd player, use the dvd player for movies - saves the ps3 laser diode (which do wear out), and a standard dvd player uses 20-50 watts. If given the choice...