Sony announced today the release of Firmware Update v2.70 for the PS3. This update includes a new text chat feature that allows users to chat with networked friends in game or in chat rooms. The friends list will appear on the XMB (XcrossMediaBar). The new update also allows for external backup of purchased media, a feature sorely needed and much overdue. For more on the firmware update, head over to Sony, or just boot up and get it!