The "first phase" will include the following features, as reads the press release:
-Sign-in for PlayStation Network and Qriocity services, including the resetting of passwords
-Restoration of online game-play across PS3 and PSP
-Playback rental video content, if within rental period, of PlayStation Network Video Delivery Service on PS3, PSP and MediaGo
-Music Unlimited powered by Qriocity, for current subscribers, on PS3 and PC
-Access to 3rd party services such as Netflix, Hulu, Vudu and MLB.tv
-‘Friends’ category on PS3, including Friends List, Chat Functionality, Trophy Comparison, etc
-PlayStation Home