The only difference between using a DLNA TV and a DLNA compatible device is, you won't be able to use the T-bolt as a remote if you use it on a PS3 vs using it on a DLNA TV. When you use it on a TV, you can control the volume, which file your playing, pause/rewind, audio track/subtitles pretty much anything like a normal DVD player could be used.
with the PS3 the remote control part is cut off, the only thing that would work would be the PS3 could access the phone's contents via DLNA and stream from the T-bolt to the PS3, but the PS3's dlna capabilities are pretty top notch too, it has thumbnail support for video/images/audio files, playlist support, continuous file playback etc.
the TV end of things would have the full features of DLNA as it was intended, or so atleast thats how it is on my Samsung 52" 750.
the DLNA media adapter is basically like the Western Digital Live TV adapter, and sorta in a way works how the Apple TV does, only exception here being the official HTC DLNA adapter uses Sense for its interface on the TV as well, and if i read everything about that adapter right, its firmware is upgradeable meaning it could still be using beta software.
now don't forget DLNA can be used two ways, on the new Sense you can stream from your computer if you have a DLNA server such as TVersity/PS3 Media Server to the phone not just from the phone to another device, you get the option to use the phone as the playback device or the device your connecting to as the playback device and whats more, again you can use the T-bolt as the remote to play files from your PC's DLNA server to the DLNA TV. I got to try it on my Incredible using the ported Desire Z ROM, and it works great, i was surprised at all the control/features it has. I can see why they left out HDMI on this phone.
as for TVout, i see signs it might not have it, if you look at the microUSB port vs the Incredible USB port they don't look alike, the one on the Incredible is designed to work both with the TV out wire and a microUSB cable, on the ThunderBolt its designed only to work with a microUSB cable again, probably another reason for this is the DLNA on board.
We all probably don't want to admit it but it seems wireless is the way the future is ending up, DLNA is one of those features that can replace HDMI on handsets as well as TVout.
now if mirroring is what your looking for with using TVout, don't forget the quality is not that great when it comes to composite. if someone can figure out how to implement mirroring via DLNA or even via microUSB like some apps have tried to master, that would be a good alternative to TVout since you wouldn't lose resolution or quality in picture.
Android SDK supports screencapture via USB
theres even apps in the marketplace that support video recording of the screen, but we have yet to see any application on the PC that supports video playback of what your device has on its screen. (ie: screen mirroring)
maybe Google will introduce something like this in the future for Android as a new API