You've probably read our Firmware 2.40 post (if not, do!), where we go in depth with the new in-game XMB and Trophies system, but there's nothing quite like seeing it in motion. Thankfully, the second Firmware 2.40 video is up now on the PlayStation.Blog and, this time, Eric Lempel guides you through the wonderful world of Trophies.

In our opinion, Trophies look pretty hot. From the overall premise, to the way the comparing of Trophies with friends is implemented so that you can see what games you and your friends own. Not only that, but the "You got a Trophy" message is exactly how we would want it to be. The only thing we have to wonder is, will there be some satisfying sound effect to accompany the message?

So there you have it. Firmware 2.40 has been fully revealed and will be available to download on July 2nd. Yeah, that's the day after tomorrow. There's no word on when older games will be patched to incorporate Trophies, but believe us when we say we'll be hounding publishers until they tell us. Most future games will support Trophies out of the box, including PSN downloads. So, what do you think?

This article was originally published on Joystiq.

PS3's trophy system explained