The details for the PS3 update 3.40 have been released. The firmware update is available now and offers PS3 owners the ability to sign up for the PlayStation Plus subscription service. Other features include a networked Photo Gallery, a Video Editor and Uploader, purchase ratings by users, and power save settings. More Facebook integration has been added as well.

“In addition to the latest features introduced in PS3 system software update (v3.40), a separate, new PlayStation Network application on will be made available,” writes Eric Lempel, VP or Network Operations Americas. “This builds upon what was previously launched with Trophies and the ability to publish purchases from the PlayStation Store. Now you can further integrate your PlayStation Network and Facebook accounts with this new application. The application allows you to display your PlayStation Network profile on your Facebook account, find out which of your Facebook friends have a PSN account and send them a PlayStation Network friend request, view your PSN friends online status and add the PlayStation Network application tab to your Facebook user profile.”

Source: PlayStation Blog