The latest firmware update for the PlayStation 3 isn't just some regular old update. Oh, no. This update is a big deal!

Firmware 3.40 brings players PlayStation Plus, Sony's new subscription-based service, as well as a new video editor/uploader to the PlayStation 3's XMB, enabling users to edit and upload movies directly to YouTube and Facebook.

As previously mentioned, PlayStation Plus subscribers get early access to demos and betas, automatic downloads of patches and firmware, free* games, discounts and more.

Take a spin through this gallery to see what firmware 3.40 is all about. Or download it for yourself. It's out!

Download Images [PlayStation Blog via Flickr]