The firmware might already be available actually. The update is to improve stability for some games. Most likely the main game that needs stability fixes is of course GTAIV but I think there were some issues for some other games that this will solve.

BTW. Firmware 2.4 is supposed to be in-game XMB. So basically we should be getting very very close to that. 

does it protect my ps3 from catching fires.

Typo in the title lol :P

I was trying to figure out what Fireware is.

On Topic: Cool, i really look forward to in-game XMB.

 lol, I'll believe that when I see it. Anyway, I guess stability is good. 

 It's the new update of firewire. It'll transfer data even faster, great for those into video editing such as myself. 

Blazing hot transfer speeds, coming January 2009! 

 the USB 3.0 comes out and screws firewire again in speeds lol

It is available for download.

 I;m at 88%

i hope sony doesnt tease us with these damn firmware updates (2.35, 2.37, 2.39, 2.395, 2.399) because we're all waiting for 2.40