PS3 Firmware 2.70 Update
I will go ahead and say that there is no word on when this firmware update is coming out, but I can say it will be soon. This new update will allow you to sort your friends list via online status and allow up to 3MB files to be attached to messages instead of 1MB files. Along with that, there will be a new text chat system which you can actually run in-game. You can have up to 15 other players with you in the chat. You will be allowed to have three chat rooms open at a time.
This update will also allow you to backup your purchased movies on an external device and then restored back on it later so you can clear up a little space on your PS3. And for you PSP owners out there, you can now transfer your purchased movies from your PSP to PS3.
[Update] The new firmware update is now live!