According to the Playstation blog the latest firmware update is coming to the PS3 on April 1st 2010. We'll discuss the full firmware update shortly, but first I want to point this out:

The next system software update for the PlayStation 3 (PS3) system will be released on April 1, 2010 (JST), and will disable the “Install Other OS” feature that was available on the PS3 systems prior to the current slimmer models, launched in September 2009. This feature enabled users to install an operating system, but due to security concerns, Sony Computer Entertainment will remove the functionality through the 3.21 system software update.

For those of you that are sitting there saying ... Wait, what? I could install Linux on my PS3?! Let's check out the Wiki page for this topic. According to the Wiki page:

Soon after the PlayStation 3 launched, Sony released "Other OS" in a PlayStation 3 System Software firmware up-date that allowed booting into Linux from the hard drive or from a Live CD that the distributor's kernel would boot making it possible to run on the PlayStation 3.

I have never tried this personally, but quick... Stop reading for a minute and go try it!! What are you waiting for ... Go with your Geekyness! :)

Okay back? Cool, huh? Let's go over the rest of the update. The official patch page isn't ready yet, so let's continue to exam the blog. According to the blog, you can choose not to do the update if you want to continue using your linux support, but you will lose access to:

• Ability to sign in to PlayStation Network and use network features that require signing in to PlayStation Network, such as online features of PS3 games and chat
  
  
• Playback of PS3 software titles or Blu-ray Disc videos that require PS3 system software version 3.21 or later
  
  
• Playback of copyright-protected videos that are stored on a media server (when DTCP-IP is enabled under Settings)
  
  
• Use of new features and improvements that are available on PS3 system software 3.21 or later

That's a pretty big incentive. Those of you out there that may use the OtherOS feature, what do you use it for? Is it worth losing the above? That looks like it. We'll have to continue to watch the official patch page for the official patch notes. You can follow it here: http://us.playstation.com/support/systemupdates/ps3/index.htm