Sony has launched Firmware 3.40 for the Playstation 3, bringing with it a couple of new features. Here's the official list from Sony.

PlayStation Plus: PlayStation Network users will be able to purchase membership to PlayStation Plus; a new subscription service on the PlayStation Network that provides you with new options to expand and enhance your gaming experience and enable you to gain an exclusive set of features and content. Friendly reminder, all of you PlayStation Network users will continue to have free access to PlayStation Network’s unmatched and expanding suite of new and exclusive features while PlayStation Plus subscribers will gain access to an exclusive and expanding set of gaming features, content and functionality.

Photo Gallery: A new network based photo sharing feature is now available on the Photo Gallery. The enhancement allows you to upload, browse and comment on photos on Facebook and Picasa Web Album. You can also opt to share your photos between your PlayStation Network friends as well as print photos from Photo Gallery.

Video Editor & Uploader: Video Editor and Uploader is a new function found on the XrossMediaBar (XMB), which enables you to edit, save and upload video files stored on the PS3 system to sites such as Facebook or YouTube.

Five Star Rating Support: Users can rate the PlayStation Store content they have purchased with one to five star ratings.

Power Save Settings: The default setting for PS3 System Auto-Off will be set at 2 hours, providing you with additional power save options and further improving power save features on the PS3 system.

It's worth noting that the video editor will not work with videos saved onto the system before the update. It doesn't matter if they're copy protected or not.

Playstation Plus is going for $49.99 for a one year subscription, which is what I suspect most people will buy. A three month subscription is $17.99 Would you pay for early access to demos and "exclusive" DLC? You do get free monthly games though. Still, I'm not sure Playstation Plus has won me over yet.