I installed the 1.11 PS3 firmware update and didn’t really notice anything different. But according to Sony, there’s been a lot of changes.
General
You can now use PLAYSTATION®Network services.
You can now use the single tap text entry method on the on-screen keyboard for English and other European languages.
Settings
[Audio CD Output Frequency] has been added as a [...]
"PS3 Firmware Update 1.11" - 01.12.06