Sony have released an update to the PSP firmware version, now version 2.71.

This firmware version adds the ability to download game demos to the PSP’s Memory Stick Duo (currently LocoRoco and kazuo trial versions are available), and video output is now displayed properly when “external tuner” is selected in LocationFree player.

Although there are rumours fling that this firmware update was to patch a security loophole, there is no evidence that this is anything other than Sony rolling out an update they feel has met sufficient testing.

If you have yet to update to firmware 2.7, then I still advise you to hold off updating until an exploit is found otherwise you will lose the ability to use homebrew software.

If you have updated your PSP to firmware 2.7 then this update will add some extra functionality that you may feel is worth while. Whether there are changes to the firmware that haven’t been disclosed is unknown, its always possible that someone within Sony found an exploit to the 2.7 firmware, in which case it would only be a matter of time before the public discovered the same exploit. In this scenario, updating to 2.71 may not be a wise move. Of course this is entirely speculation, and if I was running firmware 2.7 I would most likely update to the latest release.