I should begin this post by quickly pointing out that the vast number of PS3 blog users are disappointed with this firmware update. Why would they be disappointed with a major numbered update? Because as important as this update is, it's mainly important in relation to the PlayStation Vita, which releases in Japan in the middle of December
But we're not Japanese and we want cross game chat, the scrapping of the XMB, lots of free stuff, in-game music for every single game, more free stuff and we want it NOW. And it's unanimous, right?
That's the attitude that comes from the comments anyway and it would be easy to believe that this firmware update does absolutely nothing at all, when in reality it allows you to more or less completely organise the Vita from your PS3. You'll be able to manage games (downloaded from the store and transferred over to the Vita), music, video, you'll be able to manage and transfer save games and control firmware updates for the handheld. Those are some pretty important abilities that every Vita owner will appreciate.
Other features include that PS+ users will be able to pick and choose what is downloaded via their automatic download service and new friend/message filters.
There'll be more details once the firmware goes live, although don't expect a complete UI change to be announced between now and then.