You're talking about the Gamebryo engine. Which, I find funny if they used it again seeing as one of their huge PR talking points for Skyrim was that they rebuilt the game engine themselves, from scratch, dubbed the Creation engine. Am I the only one who remembers this?
Yes, it can be fixed by a patch. Age of Conan had one of the worst memory leaks in the history of gaming when they launched, it was eventually patched, and now it runs smoothly.
The question is if bethesda is willing to devote resources to tuning up the game, especially with people not even experiencing issues. Despite what we see on the internet, There are still people who are not having issues. I went to gamestop to ask for a refund - just for the hell of it; I knew it wasn't going to fly - and the manager there was legitimately shocked. He was curious to his file size ballooning up to over 12 mb's with over 60 hours played. However, he wasn't experiencing any issues.
I honestly believe BGS would screw up a ps3 patch. They clearly have not learned anything from their past experiences. They just are not good at writing game code.
Besides the faulty framerates and input lag, there's still another whopping elephant in the room, the horrid texture blur on everything as a result from anti-aliasing.
The only way I see the ps3 version even being on par with the xbox version is if bethesda fronts out some cash to hire programmers that are deeply familiar with sony's coding. I'm not holding my breath.
Long story short; It will get better, but most likely will not be on par with the 360 edition.