For the basic tasks you describe it should be fine. Coding may be a push depending on what you plan to do.
However you should be aware that any PS3 Linux installation does not have full access to all of the PS3's resources as it is forced to run within a sandboxed environment. Essentially the PS3's hypervisor controls what Linux does or does not have access to.
One example is the PS3's graphics processor. Linux has very limited access to
You should also be aware that Linux will only have access to 256MB of RAM. With Linux fully loaded there isn't much left which may limit multi-tasking somewhat (more disk swapping).