Sony will be releasing an updated firmware version for the PlayStation 3 console tomorrow, the 24th of July. The update will bring a bunch of technical and usability improvements, fixes to bugs and even new features. There will be animated avatars in the chat, new functionality to rearrange games in the dashboard, ability to change settings for PS1 and PS2 games, additional outfut formats, and so on.

Other new features include the ability to rearrange games on the XMB (dashboard), change folder classifications, add bookmarks, and enable Web security, as well as access new XMB backgrounds and a “bit mapping” option in music settings.

Also in the update is the ability to change the CD output to 44.1/88.2/176.4kHz, force 24Hz output for Blu-ray over HDMI, save AVCHD-type animations from a memory stick, and change settings such as upscaling while playing PlayStation and PlayStation 2 games.

Source: Gamespot