This update will fix some of the previous PSP features that didn't work that well.
The features are:
• RSS Channel Guide
• Wireless Remote Play
Lets put it this way: if you own a PSP and a PS3 you will have a "stronger" connection. RSS guide lets the user access an index of RSS feeds directly from the systems Xross MediaBar. Now introducing the new Remote Play, which lets you access your PS3's hard drive via wireless internet connection. So basically you can stream photos, videos, and music from a distance.
If you want to update, go here . (PS3 version must be 1.80)