Hi buddy. First of all, yes, there is a new firmware update, which is 4.88. Fortunately, we already have HFW 4.88.1 ready for HEN 3.0.3, which work very well and return all the functions we had. You could continue in HFW 4.87.1 with HEN 3.0.3, the only problem would be that you could not login to PSN and play online. If you prefer, you have to install the new version of HFW, and then install the HEN. That way you make sure you are up to date and can use the online functions of your console.