What format and codecs to use for PS3? i have edited a video with Open Shot. However when exporting and trying to watch via PS3 the results end up unsatisfying.

I managed to figure out that the video is displayed fine as MP4 with libx264 Codec but i cannot get audio right. Neither aac nor ac3 codec produce satisfying results. Although sound is played it sounds really annoying, to me like the bass is completely broken. I use the highest quality, 2 Channels and a sampling rate of 48000. 

Can anybody help me to get a satisfying result?

BTW VLC Player has no problems with neither of the setups i used for PS3.
The PS3 is very picky on what it plays and what not. I had the same problem as you (again with an OpenShot video)

Solutions 

1)Use http://www.ps3mediaserver.org/ that automatically transcodes to formats for PS3

2)Convert your existing video to PS3 format with https://handbrake.fr/