While the PS3 system software update v3.50 will have Blu-ray 3D Disc Playback, that’s not all it will have. New features will also include Facebook integration and a grief reporting function.

The Facebook integration will allow users to access Facebook and allow developers to make games that have more interaction with the social network. There will also be a grief reporting function where users can report any inappropriate messages from PSN users directly from the XMB.

Source: PlayStation.Blog