hirokazu said:It supposedly is, so I don't know what these guys are talking about.
It definitely is.
It used to be that you would be out of luck when it came to protected saves, but the ethernet PS3 to PS3 transfer does preserve. Hell, in my experience, it didn't even delete them from the original system after completion.
The only hurdle here is that you need your dying system to last long enough to perform the transfer. My advice here is to delete everything non-essential before you attempt it, to shorten the time. When I cleaned out my system, the full transfer took under ten minutes.