The problem plagued PS3 community breathed a sigh of relief when the 1.11 firmware update for the new console came out. The sigh came too soon, however, because it appears that the update did largely nothing. Ignoring some of the more glaring issues that people wanted solved such as hardware recognition, scaling and game compatbility, it seems the only thing they targeted was making it easier to spend your money:

Nope. Nothing as of this writing. There is an account management tab, so I can add more money to my virtual wallet to spend online without having to go to the store. Is that what the update did? There is a funny thread on PS3forums where people each wonder if a bug that has been bothering them has been fixed by the update, but no one seems to know what the update has done
Further reading reveals that the firmware update did, indeed, adjust nothing except the online wallet system. With very little official word from Sony and a huge laundry list of unfixed bugs, things are not getting any better for the PS3, all the way from manufacture to being plugged into a TV. A shame.