I heard we get XMB 2D Trophy's in 2.40 too. They are not meant to replace home trophy's , not sure how it all fits.
PS3 Recording Function I think this is using an spe to record what your playing to the ps3 HDD Some type of video/screen capture .... Would be so awesome if so. Makes sense with the youtube video uploading enabled functionality. Wouldn't be much point of that feature unless we could record video to the ps3 HDD IMO.
I would guess 2.40 comes out some time in June.