Hi, to check firmware: Go to setup and scroll down to firmware version. That will tell you what type of firmware you are running. Do NOT upgrade it! You will brick your player.
As far as downloads, what kind are you referring to? Do you want to know what kind of videos it plays? It is running an Action chipset which plays AMV video files. You will have to convert videos using the AMV converter which should have come on a CD with your player. If not, you can get it in the downloads section of this forum and download it to your computer.
You can't download external applications to your player. What is included in the firware is basically what you get.
I would also recommend following the instructions posted here:
How to Remove a Memory Hack
Many Chipods are hacked to show more memory than they actually have.