I d-loaded the 090309 FW.
The PIP mode does moves the PIP window around the screen.
The default is:
0/1 2 3
4 5 6
7 8 9
That is, Mode 0 (or 1) in left upper quadrant (LUQ), 2 in upper center, 3 in RUQ, 4 on left center, 5 in center, 6 right center, 7 LLQ, 8 lower center, 9 RLQ.
As far as I can see you can't move the position "on the fly" or change size or transparency without going into the menu.
In Menu -> Other -> Pip Setup
you can change/select:
X, Y change position
Size goes from 10-95%
Density - 10-100% - changes the transparency
I look forward to the SWAP function and adding analog inputs.
It would be nice to be able to use the arrow keys to move the PIP around the screen and/or change size as well.
Also a 50% split screen would be great.
Thanks for the FW update!