playing iphone 4 HD video on PS3?

the only way i could play 720p video captured on my iPhone 4 on a big HD screen is via my PS3.

the iPhone 4 saves the video files in .mov format, although this format is not compatible with the PS3, even with the latest 3.40 firmware.

i know i'm gonna have to convert my HD .mov files into a format readable by a PS3, but what type of format and without the loss of quality.

any help on this is mucho appreciated 🙂