We all know the PlayStation 3 will have the same XMB as the PSP. However, there are some very pretty improvements. Phil Harrison demoed the console's photo ability and it is absolutely beautiful. Unlike the PSP, the PS3 can manipulate your photographs and make them appear as physical photos in a 3D environment. With upgradeable firmware, the PS3 will be able to have even more functionality as well.
The browser will also have multiple tabs, a la Firefox. The console will also support one universal login for online games (according to the 1UP Show). Hopefully, the improvements made to the XMB on the PlayStation 3 will find their way over to the PSP in a future firmware version.