November 28, 2006 - If you're one of those lucky people who actually have a PS3 in their possession, be prepared for a new firmware update that's going to affect all systems starting today. The update is v1.11 and it features an Account Management System Icon to your friends list. The feature itself was already present in previous firmware versions, but this time they just made it easier to access.
However, there is speculation among PS3 users that the updated fixed something else, since the browser seems to load pages faster, and the actual download itself takes more than a minute to download. We've heard of reports of up to 10 minutes for the entire update to fully download, and we experienced a 5 minute wait ourselves. Unfortunately the only documented change was the AMS, so we'll have to take Sony's word on it for now.
Thanks to http://ps3.ign.com/articles/747/747802p1.html for sharing the news with us!