Today 1.07 has gone live, with a list of the GT5 PlayStation 3 changes detailed below from the site (linked above):
Update Notice (1.07)
A new update has been released for Gran Turismo 5. The main contents of the update are as follows:
[Major Changes and New Features]
• Friend Rankings - In Drift Trials and Time Trials, you can now display leaderboards that shows only your friends. While it was difficult before to locate your friends in the general leaderboards, this now makes it easier to compare your lap times and points with them.
• Performance points (PP), which is an index of a car's overall performance, is now calculated regardless of your tire selection. You can now set performance point restrictions and tire restrictions separately when you race in a lounge.
• Fixed the issue where the performance of electric cars increased/decreased after a certain amount of driving.
• Downloaded replays from Seasonal Event Rankings can now be viewed properly.
• Cars worth over 1,000,000 Cr. (including gift ) are now prohibited from being traded to prevent issues during the trading process. When lending and borrowing cars between friends, please use loan system.
[To Check Your Current Version]
• To check the version of your game, press the " " button at the bottom of the main menu screen. The version number will be located on the upper left of the index page.
• If the number starts with "Ver. 1.07", you are playing the latest version of the game. If not, please press PS button and quit the game. The game will be updated automatically when you restart it with your PS3™ system connected to the Internet.