So, no, we don't really know what it does at the moment. Do you have any ideas? Notice your PS3 acting strangely? Hopefully we'll know more later in the day.
Update: So, Sony released the list of new features right here. Apparently the only difference is that backwards compatibility for some PS2 titles has been improved.
- Key specs
- Game format Optical disc, Downloadable
- Online features Multiplayer, Voice chat, Video chat, Store, Browser
- Drive capacity 250 GB
- Controller type Wired, Wireless
- Motion controls Accelerometer, Gyroscopic
- Video outputs HDMI (v1.3), RCA / composite
- Released 2012-09-25