In the category of "everyone else," the update will add a new recommendation feature that will allow users to recommend specific PlayStation Store content to friends. A new "TV/Video Services" section will also be added to the XMB. The new category will house online video services like Hulu and Netflix. Videos purchased from the PlayStation Store, however, will still be found in the same "Video" section of the XMB.
A handful of updates are also being added to allow for expanded capabilities when watching 3D Blu-ray movies as well.
Firmware 3.7 is scheduled to launch "soon," so stay tuned.