Yep. Pspupdates.com has listed new information regarding the new software update coming July 27th.
New Features include:
Main function updated in system software version 2.0
Internet browser added
* Macromedia Flash is not supported. A part of the web pages might not be displayed correctly
* The startup of the internet browser can be limited.
Jump function added (UMD Video & UMD Music)
A-B repeat function added (UMD Video & UMD Music & videos stored in Memory sticks)
"4:3 mode" added to Video mode (videos stored in Memory sticks)
Sound mute function added (videos stored in Memory sticks)
MP4 (AVC) format playback support added (videos stored in Memory sticks)
Can accept music tracks in Atract3 Plus format from "Sonicstage" under version 3.2 (now for pre-order)
MP4 (AAC) & Wave (Linear PCM) format playback support added (music stored in Memory sticks)
Wallpaper function added
Image receiving function added
TIFF, GIF, PNG, BMP format supported
"Korean language" added to "system settings" -> "System language"
"Character set" added to "system settings"
"Theme settings" added
"Internet browser startup limit" added to "Security settings"
"WPA-PSK (TKIP)" added to security method in "Network settings"
Keyboard now support web input.
* All the setting before the upgrade will be preserved.
As most PSP users know, this is a firmware upgrade, meaning that it will update your system preventing you from playing emulators, any homebrew games and applications, and any other system modifications...
PRETTY FREAKING SWEET THOUGH!