from Andy_maN:

As the title says, it's 48th build of FuSa SD :)

It's almost the same as 47-th build, except new FS mode 3.
This mode is experimental, so picture can blinks on some TVs while playing some games or some part of game.
It's similar to Sony's official TV out for HDTVs - so now you can try what HDTV users already have had :)

In most case this FS mode 3 is for us, developers, and it will lead us to GfX filter in future (hopefully :p)