PS3 Firmware 2.42 Goes Live
Posted by x3sphere at July 29, 2008, 9:29 pm

Update: According to PlayStation Network director Eric Lempel, firmware 2.42 “improves the playback quality of some PLAYSTATION 3 and PlayStation format software.” Like we said, minor update.
Yes you read that heading correctly — a new PlayStation 3 firmware has hit Network Update! 2.42. No idea on what it changes, fixes, or adds yet. But considering the .1 version increment, we’re strongly inclined to say that this is a minor update.
We’ll (hopefully) update this space with a changelog shortly. Stay tuned. As usual, a direct link to the firmware download is provided below in case you wish to install the update manually.
Read more: PS3 Firmware 2.43: Nothing To See Here, PS3 Firmware 2.52 Released, PS3 Firmware 2.80 Out Now, PS3 Firmware 2.17 Now Available, PS3 Firmware 2.36 Now Available

This is supposed to be because of Playstation Living or Life..whatever it's called.It should be on the store tomorrow evening..
It wa rumored to be part of the 2.42 update and Kim Nyugen played that down so it seems to me that it will be on the store.
R2 beta in the next Qore,PSL,and the Socom Beta upcoming..hopefully..are making the next few months quite interesting for us PS3ers..HOMEless 'til November...
Rearranging of the XMB clock is 'posed to be in this update.I'll reply on the new things I can find in a bit..later.
Nothing new that I can find,maybe just the compatability with the PSL..