Yup, just tried it myself and DTS HD MA and Dolby TrueHD soundtracks still come out as DTS and Dolby Digital soundtracks respectively when in Bitstream mode.
The direct link BBC iPlayer is good, you can now at least start watching a programme through it full screen only using the Bluetooth remote, though from the quick play I've had so far, if you pause it, it then goes small screen and can't be made full screen again without getting the PS3 controller out which is annoying (will update if I find a way round this). Other new features include making the XMB options much larger on the screen - not sure I agree with this 100% aesthetically but it does at least make the options easier to read.
One improvement some people might like is the ability to now send audio out of two of the outputs at once - this could be good for some people e.g. if you wanted to send audio via HDMI so you can use PS3 on a day to day basis using TV speakers, but also wanted audio via the optical out if you want to send Dolby Digital / DTS to an amp for movies. You can now do this without having to switch the output in the menu setting each time - I know at least one my friends will like this feature!