Heres the latest news from the PSN Team:

A new PlayStation Vita System Software update will be released on 3 April 2012. It will make a few changes to the user interface. You can update your PS Vita System Software using Wi-Fi, PC or a PlayStation 3 system; please refer to this guide if you need help performing the update.
System Software Update 1.65 features include:

  • You can now disable the notification alert messages that indicate when friends sign in, messages are received and other activities. To disable these alerts, got to [Settings] > [Sound & Display] > check/uncheck [Notification Alerts]. Additionally, Notification alerts will now display for five seconds instead of three seconds
  • ‘After 10 Minutes’ has been added as an option in [Power Save Settings] > [Auto Standby]
  • An arrow will indicate when new activities are available in LiveArea
  • Caps Lock is now supported by the on-screen keyboard. Simply double-tap the Shift key to enable it