We present an update of the MILC investigation of the properties of light pseudoscalar mesons using three flavors of improved staggered quarks. Results are presented for the $pi$ and $K$ leptonic decay constants, the CKM matrix element $V_{us}$, the up, down and strange quark masses, and the coefficients of the $O(p^4)$ chiral lagrangian. We have new data for lattice spacing $a approx 0.15$ fm with several values of the light quark mass down to one-tenth the strange quark mass, higher statistics for $a approx 0.09$ fm with the light quark mass equal to one-tenth the strange quark mass, and initial results for our smallest lattice spacing, $a approx 0.06$ fm with light quark mass two-fifths of the strange quark mass.