If there was any doubt that the PS3 is the most capable Blu-ray Disc player currently on the market, the latest System Software Update (version 2.30) has enabled DTS-HD HR and DTS-HD MA decoding within the the system.
This update allows for lossless decoding of titles (primarily Fox titles) that use the DTS-HD MA compression algorithm within the PS3. The sound is converted to uncompressed PCM to be sent via HDMI connection to compatible receivers.
This update makes the PS3 far-and-away the most capable Blu-ray player on the market, allowing for the decoding of ALL advanced audio codecs while retaining BonusView (Profile 1.1) and BD-Live (Profile 2.0) capabilities already released in previous updates.
While standalone Blu-ray players will be coming out with competing features later this year (Panasonic BD50 and Sony S550 among others), at the moment, only the PS3 supports all the advanced features available on the Blu-ray disc format.
The new System Software Update 2.30 also enables access to the new and (vastly) improved PlayStation Store that now functions as a much better integrated system, as opposed to the old, HTML based system.
The System Software upgrade can be updated from an internet-connected PS3 directly using the included software update feature or the update can be downloaded to a PC and transferred via memory card or USB drive by\ following the directions here.
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