Here is a blurp from Sony’s
site.

The update works fine for me so far. But I can’t get the LocationFree to work yet, as instructions are refering to a newer model of LocationFree base unit.

Cheers,

Sems

Network

* has been added as a feature under .
* and have been added as options to under in the menu bar.
* Settings for and in can now be saved.
* The input history of online forms accessed through can now be saved.

Video

* Copyright-protected video can now be played under .
(This applies to video saved on Memory Stick Duo™ media).
For details, contact the video content provider.
Note that fees may be charged to obtain or use copyright-protected video.
Downloadable copyright-protected video may not be available in all countries
and regions.

Video

* has been added as an option to in under .
* has been added as a security method under .

Other

* Korean input mode has been added to the on-screen keyboard.

Hints
If your PSP™ system software version is 2.50 (or later), you do not need to perform this update. To check the version of your system software, select "System Settings" under from the home menu, and then select "System Information".
Do not use data other than official update data acquired through our company’s update server.
Depending on the software title, you may not be able to play without first updating the system software.
This system software update includes all features contained in previous versions.
Depending on the system software version, screen images shown here may be different from the actual product.

You can update your system software by any of the following methods:

* Network Update

Use the PSP™ system’s Network Update feature to perform the update. Click the link above for update instructions. Refer also to the PSP™ system instruction manual.
* Update using a PC

Download the update data to a PC, and then save on Memory Stick Duo™ media. Start the saved update data on your PSP™ system to perform the update. Click the link above for update instructions.
* Update using a UMD™

Use the update data included on a UMD™ to perform the update. Click the link above for update instructions.
*As of October 13, 2005, this method is only available for updates up to version