A minor firmware update for the PSP is currently available. Firmware 5.03 for the PSP along with some stability improvements also fix the GripShift exploit, an exploit that allows the new PSP-3000 systems to run homebrew.
On the PlayStation 3 world a new firmware update is set to launch tomorrow. PS3 firmware 2.60 will bring a new
Photo Gallery application,
DivX 3.11 support and
Guest access to PlayStation Store.
Have a look to the official demonstration video above for more info.
UPDATE: Firmware 2.60 for the PlayStation 3 is now available.