Firmware update 2.7 hit the Playstation Portable in Japan. The update, which I'm sure will be hitting North America eventually, adds Macromedia Flash 6 support, the ability to save podcasts to your Memory Stick, AAC playback and something that says Video L/R. Maybe I'm being dense, but I'm not quite sure what that last one is.

PSP WIll Get Firmware v2.7 [Tech Ticker Blog]