update
Hi
I see no reason why not providing you preserve the direcotry structure. If you alter that you could have serious issues.
You will also have to be careful about your links to files outside the PS3 directory, you willhave to make then relativeto the root.
Thats my thoughts --- but its something I need to do next week (once I or support solve my paypal issues) because I want to add a shop to an exisitng site
HTH
Ian