You also get trophies with this patch, which reader Alex L. said went up on the PlayStation Network today.
When news of the patch spread last month, Capcom didn't give a date for its release. We heard it got approved this week, through the company's official Twitter feed. It is now out, so go get it if you want unlimited lives, and want to swing into walls without detaching and falling to your death.
Unfortunately, Comcrap is taking its sweet-ass time installing my interwebs, so I can't connect and verify if this is on Xbox Live or not. I'll update the post if anyone can verify it for us meantime.
If you were wondering, I'm doing all of my blogging on a tethered iPhone, and it is just as rad as it sounds.