Which means if you erase them you are screwed.

I would seriously love to know who actually purchases online media content such as movies. Obviously its a big market because everyone is now doing it. But whats the point of downloading all that content when once you run out of space you will have to delete something, and if you happen to erase that movie you paid $15 for then you cannot redownload it unless you pay another $15.

The Sony licensing agreement states that "Content cannot be redownloaded once it has been downloaded to either a PLAYSTATION 3 or PSP system." Of course no one will actually read that part of the agreement and just download the damm movie thinking that you can redownload it as much as you want.

I think that its still best to buy the movie and just RIP it to your PC or laptop and then just transfer it to your PS3. Its a bit of hard work but hey you can do this as many times as you want unless the DVD gets scratched or breaks.

Source