You read that correct, following the previous PS3 OFW revision today Sony released a new PS3 Firmware / System Software 4.87 Update for those still holding onto their PlayStation 3 entertainment system video game console. 
As always, it's NEVER a wise idea to update PlayStation Firmware in order to make use of such things as PS3 Custom Firmware (CFW), downgrading, homebrew, Webkit exploits, etc.
Download: PS3 Firmware 4.87 (EU) Update / PS3 Firmware 4.87 (US) Update / PS3 Firmware 4.87 (AU/NZ) Update / PS3 Firmware 4.87 (JP) Update
At the time of writing the official PlayStation Site hasn't been updated yet, but it likely includes the usual 'improves the quality of the system performance' security fixes.
Update: PS3 System software features
Version 4.87
Renewing the AACS encryption key
You may have to renew the AACS encryption key to play content such as movies on commercially available BD video software (BD-ROM). If a message indicating that the encryption key needs to be renewed is displayed, update the system software to the latest version. The encryption key will then be automatically renewed.
AACS (Advanced Access Content System) is a copyright-protection technology that is used on Blu-ray movies. The copyrighted content is protected by setting an encryption key on both the disc and the device used to play the disc.
An AACS encryption key expires in 12 to 18 months and must be renewed. There may also be other times when the key has to be renewed.
If anyone tests out PS3 version spoofers for PSN online access and to help avoid bans let us know if they're working or give THIS tutorial a try alongside HFW_4.87.1_12_03_2020.zip... although historically PSN works for a brief period (a week or so) after each PS3 Firmware update goes live so we'll update this article if any PlayStation 3 Scene devs further examine it and report their findings.
Crushing PlayStation 3 with hydraulic press
Patch for PS3 in vsh.self (4.87), 'disable creation of /dev_hdd0/tmp/turnoff file' (don't know if someone did it before):
Cheers to @pearlxcore on Twitter for the heads-up on this PS3 News this morning! 
As always, it's NEVER a wise idea to update PlayStation Firmware in order to make use of such things as PS3 Custom Firmware (CFW), downgrading, homebrew, Webkit exploits, etc.Download: PS3 Firmware 4.87 (EU) Update / PS3 Firmware 4.87 (US) Update / PS3 Firmware 4.87 (AU/NZ) Update / PS3 Firmware 4.87 (JP) Update
At the time of writing the official PlayStation Site hasn't been updated yet, but it likely includes the usual 'improves the quality of the system performance' security fixes.
Update: PS3 System software featuresVersion 4.87
- This system software update improves system performance.
Renewing the AACS encryption key
You may have to renew the AACS encryption key to play content such as movies on commercially available BD video software (BD-ROM). If a message indicating that the encryption key needs to be renewed is displayed, update the system software to the latest version. The encryption key will then be automatically renewed.
AACS (Advanced Access Content System) is a copyright-protection technology that is used on Blu-ray movies. The copyrighted content is protected by setting an encryption key on both the disc and the device used to play the disc.
An AACS encryption key expires in 12 to 18 months and must be renewed. There may also be other times when the key has to be renewed.
If anyone tests out PS3 version spoofers for PSN online access and to help avoid bans let us know if they're working or give THIS tutorial a try alongside HFW_4.87.1_12_03_2020.zip... although historically PSN works for a brief period (a week or so) after each PS3 Firmware update goes live so we'll update this article if any PlayStation 3 Scene devs further examine it and report their findings.
Crushing PlayStation 3 with hydraulic press
Patch for PS3 in vsh.self (4.87), 'disable creation of /dev_hdd0/tmp/turnoff file' (don't know if someone did it before):
Code:
Offset: 0xB86F0
Original: 0x419E006C
Patched: 0x4800006C
