Besides the obvious stuff? Can sombody post a picture of the menu for the PS3 of each thing, so I can see what all the cool features are?
(http://upload.wikimedia.org/wikipedia/en/2/2c/XMB_of_PS3.jpg)
On the XrossMediaBar [or XMB] there are, as you can see eight parts sections of it, from left to right they are:
Users: Allows you create Master and Sub accounts, Master accounts can control things like, how much Subs spend in the PlayStation Store. This also corresponds to your PlayStation Network ID.
Settings: Pretty much what it sounds like, different settings for the console.
Phots: Again, pretty what it sounds like.
Music: Yep, again it does what it sounds like it should, music CDs should also appear under this menu.
Videos: Plays stored videos from your HDD and from DVDs/Blu-Rays.
Games: Game discs appear under this menu, as well as games saves and PlayStation 1 games downloaded from the PlayStation Store.
Network: This is where the PlayStation Store, remote play, online manuals, RSS feeds, and web browser are found.
Friends: Manage your friends list from here, you can also send messages to them.
That's basically all it does.
Now there is one which says PSN or something and it's icon is blue, it was added in the 2.0 update.