PS3 Firmware 3.65 Update: Back Up PSP Saved Data on Your PlayStation 3
A new firmware update has been issued for PS3. The main feature of the version 3.65 firmware update is that you can now back up saved data for PSP games by copying it to the PlayStation 3 Hard Disk Drive.
This is probably in relation to the recently announced transferring feature, where you can share saves between certain PSP and PS3 games.
The Saved Data Utility (minis) under Game tab has been changed to Saved Data Utility (minis/PSP™). Also included in this update are the usual tweaks to improve system stability during the use of some PS3 software.