The creator of the libraries wrote a list of features on www.ps3-hacks.com and here is that list
* Support for multiple simultaneously connected devices.You can find the file system library at ps3-hacks here
* Hot swapping of devices.
* Support for multiple partitions (with different FS).
* NTFS support
o Alternate data streams
o Sparse files
o File compression
o B+ directory* FAT support
o FAT12, FAT16, FAT32
o Long file names (VFAT)
Writing to NTFS formatted volumes is not supported and not planned.
Check the README for everything else.