VG247 is reporting that a developer at GDC says the latest PS3 firmware update v2.70 will be released sometime this week and that developers just received it Monday. No one knows what’s to be included with the update but rumors are swirling that XMB and Trophy load times will be drastically reduced. This could be a major update given that it’s v2.70 and not v2.69 which tends to always add unspecified fixes and under-reported features. We’ll keep our ears close to ground and let you know everything about the update if and when it drops.