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Yes, the long awaited update finally arrives.QUOTE said:The Official Sony Blog was updated today, bringing us news, that a new firmware will be arriving soon, for the PS3. The upcoming firmware, version 3.55, does not bring any new features at all. Instead, the firmware is a minor update, that only adds a security patch.
It can only be speculated on, as to what exactly, this firmware update patches. However, if we had to guess, we'd say it will remove the ability to downgrade, with devices such as the PS Jailbreak and E3 Card Reader. We urge all of our readers, not to update, once this firmware is released, if they wish to retain the ability to jailbreak their console.
UPDATE: The v3.55 firmware has now arrived, consoles are being prompted to update.
DO NOT UPDATE YOUR PS3 FIRMWARE TO v3.55!!!
Source
Sony's Blog