An update on the US Playstation blog announces all of the enhancements that are going to be coming to PSN with the 2.70 Firmware update and it looks like they are doing a great job of adding a lot more functionality to the system.
Some of the updates include being able to chat with up to 15 friends instantly, even whilst playing games as well as improvements to the friends list and being able to back up videos purchased from the PS store onto external storage devices.
If you want to check out the full details, hit the link in the source below. You can also take a look at the video that I have posted above to get a quick preview of the text chat and some of the other features.
Source: US Playstion Blog
Last Updated: April 2, 2009