5 Months Ago, Karl B. from QJ.NET says (in Patch: PSP firmware 5.03 out now update) So far, no changelog, but firmware 5.03 supposedly includes "a security patch for the PSP's system software." Could this be Sony's answer to the GripShift exploit? Very possible. Stay tuned for more updates.

Update Word on the PlayStation forums is that the update is now live. As Lempell said...

12 Months Ago, PS3 News from PS3News says (in Patch: PS3 Firmware Update 2.42 Now Available!) According to PlayStation Network director Eric Lempel via the PS Blog, PS3 Firmware 2.42 improves the playback quality of some PLAYSTATION 3 and PlayStation format software.
Download: PS3 Firmware 2.42 (US) / PS3 Firmware 2.42 (EU)... Read More »