Though Sony did not specify a release date alongside its announcement, the company had previously pinned a summer release window for the update, which will bring the system to version 2.40.
The firmware will grant users access to the system's XMB front-end interface, used to navigate features such as friends lists and music, while playing a game. Meanwhile, the oft-rumored trophies stand as Sony's answer to the Xbox 360's Achievement system, which recognizes players for completing a title's more difficult or unusual tasks.
Many gamers have cited the inclusion of Achievements as impetus for purchasing the Xbox 360 version of a multiplatform title over its PlayStation 3 counterpart. Last year, a study conducted by Electronic Entertainment Design and Research found that 360 Achievements generated greater game sales and higher review scores.
Sony added that more details on the different features packed in the PlayStation 3's 2.40 firmware update will be provided soon.

No problems updating my PS3 here either had it since release and every update no problem. Using Wireless also.
"I like them when they encourage me to play in a way that I would not usually." This is exactly a reason to despise a...
Nothing major. Improved system stability during PS1 games, that's about it.