Update: PSP firmware 3.95 is now available on Network Update. We’ve added a direct link below in case you wish to download the update manually.

PlayStation Network head Eric Lempel has revealed that a new PSP firmware is coming and will be “available shortly.” Firmware 3.95 will introduce two new features, the first of which is the ability to customize control settings in PSP PSOne settings. The second is a more PlayStation 3 centric feature, allowing PSP owners to turn off their PS3 console or leave it on when exiting from a Remote Play session.

* While playing PSone games on your PSP, you can now customize how the buttons are assigned by going to [Controller Settings] > [Assign Buttons] and select [Custom].
* You can now quit Remote Play and choose to turn off your PS3 or leave it on after quitting. This is useful if you are performing a download and want to quit Remote Play, but still want your download to continue on the PS3. Select [Quit and Turn Off the PS3 System] or [Quit Without Turning Off the PS3 System] from [Quit Remote Play] when you press the HOME button on the PSP system.

Frankly, after the last couple firmware updates, we’ve all been waiting for something more substantial to be released. This is it. Should tide us over until 4.00 finally hits