According to this, the Portable Copy feature rumoured for the last PS3 firmware update will arrive “later this year”, the quote coming from an SCEA rep.
Portable Copy is the ability to transfer a copy of a movie from a Blu-ray disc to your PSP. Quite how it works hasn’t been detailed as yet.
PCWorld said it was to be included in firmware 2.20, but SCEA immediately debunked the talk. Hopefully the feature will happen sooner rather than later, however.