The PS3 will be getting a firmware update in the next few hours, with previous Plus exclusive features being made available to all PSN members. Firmware update 4.50 will include the following features.

All system software updates will be automatically downloaded.
Purchases made on the Web Store will also be automatically downloaded when the system turns on.
Trophy visibility can be changed in the privacy settings, with the option to hide certain titles.
The transfer of data between the PS3 and Vita can be carried out over Wifi, and ethernet connections.

There isnt an exact time for when the update goes live, but my guess is it may coincide with the store update.

Source: PlayStation Blog