What Sony will not come out and state is the fact that the update will do little but block potential jailbreakers of the console.
In September, PSJailbreak released the first jailbreak, showing how PS3's security model was open to be exploited, and Sony was quick to shut down the project. However, open-source alternatives cropped up, giving users a chance to jailbreak their console for free.
Sony has since continued to update the system's firmware, blocking jailbreakers. Last month, however, a "downgrading" option appeared, giving anyone a method to downgrade their PS3 to firmware 3.41, the last version to fully work with the jailbreak devices.
Earlier this week, video emerged of unsigned code being run on a PS3 with v3.50 firmware, but that has yet to be fully confirmed. It won't make a difference now as the latest firmware is required to log into PSN.