PS Blog info here (must read): http://blog.eu.playstation.com/2010/06/15/playstation-plus-launches-next-week-check-out-what-its-all-about/
Lifted from the site:
PlayStation®Plus delivers a whole new level of access and convenience so you can spend more time doing what you love playing games! PlayStation®Plus includes cool stuff like Full Game Trial where you can try before you buy. Or, have the opportunity to get early access or invitations to select demos and betas. Best of all, the value pays off with killer exclusive discounts and free games and content from PlayStation®Store.
FULL GAME TRIAL said:
A great way to try before you buy - play a game for up to one hour, then purchase the game to unlock your trophies and continue your progress.
AUTOMATIC DOWNLOADS said:
PlayStation®Plus downloads select demos, patches and firmware updates automatically, so you dont have to think about it.
PS STORE DISCOUNTS said:
Save money on stuff youre buying anyway with discounts on games of up to 50%. These discounts alone make PlayStation® Plus worth it. Straight cash perks to perk your thumbs up.
EXCLUSIVE OFFERS said:
Access to select avatars, themes, and other items other folks can't get at least not until long after youve been there, done that.
FREE GAMES AND DOWNLOADS said:
The free stuff adds up to way more than the cash youre putting down. Think about it. Get select free games, add-ons and other downloads. Now thats a deal.
SELECT EARLY DEMOS said:
There will be occasions where you will get early access to some demos before all the other common folk. Thats pretty sweet.
PRIORITY BETA INVITATIONS said:
Youll be the first to receive invitations on select Betas.
Priced at $50 per year or $18 per three months.
Just announced. More details soon, but here's what I remember:
-Get a selection of free games every month
-Auto downloads of content and patches
-Exclusive content and DLC
-"Title trials" of games (dunno what that means)
$50 a year. Coming later this month. This month's features are:
Free games (owned only during your PS+ subscription)
-Fieldrunners/Age of Zombies PSP/PS3 Minis
-Rally Cross PS3/PSP
-Infamous Title Trial
Normal online multiplayer/services are still free.