FROM SONY : Tomorrow a new system software update (v4.20) for PlayStation 3 is releasing which will include a few minor updates in order to strengthen functionality and improve your overall experience.System software update (v4.10) added a feature that enabled you to hear your own voice through the Wireless Stereo Headset when playing multiplayer modes. This type of audio feedback is known as “sidetone.” Based on your comments, system software update (v4.20) will improve sidetone audio performance by giving you the option to select one out of five levels for microphone audio, or turn the feature off completely. For those of you who use the Wireless Stereo Headset to watch Blu-ray or DVD movies on your PS3, this system software update will also enable virtual surround sound functionality, giving you a superior audio experience.This update will also allow you to set the amount of time that the system will wait before turning itself off automatically for [Video/TV/Music/Photo] and for [Game/Other Features].Additionally, saved data management has been improved. You will now be able to select multiple saved data items and delete or copy them as a group.
Normally I cringe at the word "update" from Sony's lips. Luckily firmware updates are much more competent than Home updates.
Lets hope this fixes some of the stability problems that have been going on for two firmware updates now. Like XMB freezing while doing nothing or backing out of an XMB Chat.