It is a decent update, I'm especially liking Suspend/Resume but there is still a lot of work to do in my opinion.
Just some of the things I hope they will add in the future:
* DLNA
*
Friend online/offline notifications with the option to turn this feature on/off and also an option to only show certain friends.
* An option to sort friends into different groups
* Folders!
* An option to pin your favourite games to the home screen instead of it being in order of the games that you last played.
* Custom wallpapers so that we are not only limited to a few colour schemes or dynamic themes.
* A mode to appear offline to friends whilst still being online. Watching netflix and getting friends inviting me to games is annoying!
* Being able to play video files from a USB stick, or even better to allow you to copy video files to the hard drive. Also the ability to copy and play mp3 files from the hard drive.
* Ability to change PSN username at least once every so often, they could maybe charge a small fee for this.
* Being able to delete things from the library. I think it is poor that I still have things like the fifa 14 demo or destiny Beta showing in my library that I deleted many months ago.
I could name quite a few more but I will stop there

The ps3 has most of these features so hopefully we will see them at some point. I read that Sony does not want to simply copy and paste features from the PS3, they want to build them from the ground up so I appreciate it will take some time.