The highly anticipated PlayStation Network 3.0 is now LIVE!  Be sure to update your PS3 to enjoy all the goodies 3.0 has to offer.  The update went live around 11:00 PM ET on August 31st.  Here’s some quick FYI’s:  You’re PS3 will update it’s database along with a couple of reboots upon completion of 3.0.  The glitter, oh the glitter…

For those wanting the “what’s new” break down, thanks to Daniel, I’ve listed the highlight below:

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It looks like the Xbox 360 isn’t the only console in town that can completely reinvent their system via a system update.  VG247 is reporting that they might have learned of the upcoming 3.0 firmware for the Playstation 3.  Here’s a rundown of some of the things we could expect from the 3.0 update:

• Reputation System — Players will be able to give each other reputation based on how they perform in games
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