The port for the Orange Box wasn't bad. It was just inferior to the other ports/versions. It's just that it was the perfect weapon in the console war for trolls, so they emphasized on it being the inferior port, slowly resulting in the world-wide myth that it just plain sucked.
The framerate and overall quality of The Orange Box was inferior on the PS3. The 360 version ran smoother, especially when it got very hectic, and the controls just worked better. Again, the PS3 version was just fine and satisfactory, but not quite as smooth as the 360 one. Then the PC version blows both of those out of the water.
If the Bioshock port is as good as The Orange Box was, then you have nothing to worry about.