You can also run a different OS on it if so inclined and run DivX, office, the tinterweb, webcam chat and other stuff.
If you dont want all that and deal with the new OS install you have PS Life, kind of cool, but ultimately pointless! (Basically its the world from a distance in real time)
I guess if you cant already there will be DVR functionality on the PS also.
...Or you could just use it as a BluRay player
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