Well, I'm guessing what you are asking is if that monitor can run the ps3 in HD, and the answer is probably not. For one, I'm not sure why a 4:3 would have HDCP since "High Definition" formats for movies and games are in a 16:9 aspect ratio. Although a 4:3 monitor can definately achieve HD quality resolution, which 1280x1024 is, almost all (good) new monitors are widescreen.
As for what your ps3 would do if the monitor DOES support HDCP and you try and run a game/movie in HD format (1280x720 or 1920x1080 for ps3 settings, those are your only options for HD), I'm not positive. It would either stretch the image to fill the screen and would look really strange, or it would run them in letterbox format with the black bars on the top and bottom.
Your safest bet would be not to try and run it on your monitor because either way you probably are not gonna get your desired results. If you really want to play games in HD on a monitor, you can buy a decent 21" or so widescreen monitor with HDCP support (up to 1080p) for about $200-250. If the monitor doesn't have an HDMI slot, but does have HDCP input, it will have a DVI slot. In that case, you can buy a HDMI to DVI cable for about $5 online, and HDMI and DVI are both digital so there is no loss of quality.
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