The extras say it was done in Pro Tools, but people here do the same quality and quantity of work using less professional means. Basically, it's the 2004 5.1 with some custom patches and transitions to make it conform to the GOUT. It doesn't sound like the film did when it came out, obviously, but it's decent IMO, although I haven't actually listened to it full 5.1. Purists will obviously complain about the levels of the 2004 mix, but I don't think it's as bad as they say since most home video mixes have a lot of the same problems with too much low end and bad dynamic range, etc.
The video is NTSC, so if your PS3 can handle NTSC then I guess it will work.
As for "Is it better than DarkJedi's GOUT restoration?" That depends on your tastes. This version has more detail, but also more grain. I like grain, and I felt that some of the AVISynth attempts maybe took out too much (except LFL Pwnage, which maybe could have even gone a little further), and I also like that the colors don't pop as much as there is less saturation (I actually thought the GOUT had the best color levels, but I would prefer less rather than more, as IMO ANH always had a more pastel color scheme). Also, this is dual layered which means there is no compression artifacting, whereas you get the occassional artifacts in DVD-5s. The one area where this version falls behind others is in having little to no anti-aliasing work done, although I don't think the anti-aliasing filters on the other projects ever completely solved the matter. The other ones have the stereo mix AFAIK, which I enjoy the most and miss here. The subtitles for Greedo on this one are technically less accurate in font (going off Puggo's versions anyway) but more pleasing to the eye IMO. So its a bit up to individual preference.