http://www.psu.com/In-Game-XMB-Overl...s--a753-p0.php

In-game XMB is coming in the next firmware update! Which has to be v2.00:

- Update increments of 0.01 show that it's a minor update (the colour of the cursor when entering text is different)
- Update increments of 0.10 show that it's a majorish update (addition of upscaling, or custom wallpapers)
- A new number altogether (1, 2, 3, etc) is a MAJOR update

Which leads me to suspect that MAJOR things will come with update 2.00 - in-game XMB, obviously. Possibly also custom soundtracks in games, maybe a PS Store redesign. And, of course, Home.