The two main features of this firmware update is "virtual trophies" and "in-game XMB support". The trophies are just a way for users to show off their accomplishments by gathering trophies for skill level and personal achievements in games.
Perhaps the most notable and long awaited feature is the ability to communicate with other PS3 users without actually leaving the game. They can also start a private voice chat while playing the game.
Gamers will also receive a Google Search Bar for their daily searching.