As with the PSP, Sony seems to be releasing new PS3 firmware revisions in rapid succession. In its mere 3 weeks of existence, the PS3 has now received its fourth update, addressing an issue with PS2 titles requiring access to the HD (Final Fantasy XI for instance), as well as updating various PSOne and PS2 backwards compatibility titles. If you read Japanese, here's the full fix list...
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Sony Releases v1.3.1 PS3 Firmware Update
by Rainier on Dec. 13, 2006 @ 1:59 p.m. PST
At the heart of PS3 is the Cell Broadband Engine, one of the most advanced computer processors in the world, that enables massive floating point calculation, and Blu-ray Disc (BD) drive, providing a High Definition (1080p) next-generation gaming and movie experience in the home, as well as up to 50 GB of data capacity.