UPDATE: Eurogamer YouTube Editor Ian Higton has taken the new PS4 update for a spin and made a video, below, of all the best bits.
ORIGINAL STORY: The next major update for the PlayStation 4 is available to download now.
The headline new addition is ShareFactory, Sony's new video editing app and answer to the Xbox One's Upload Studio.
But there are other important changes, including the addition of new light bar settings for the DualShock 4 controller. You can now change it to bright, medium or dim in the settings menu. It's worth pointing out that the touchpad has also been updated so you can use it to navigate the on-screen keyboard.
The 1.70 firmware update also adds automatic pre-download (Ubisoft's Watch Dogs is one of the first games to make use of this), an option to disable HDCP for games, live broadcasting in HD and archiving support, and new PlayStation Camera commands.
Meanwhile, Sony has updated the Vita firmware to version 3.15 and the PlayStation App to version 1.70 so both better integrate with the PS4.
Specifically, the Vita update should improve Remote Play with the PS4. Sony said it will now be easier with automatic device registration. This automatically detects and pairs both systems when they're both online and the same user is signed in to both devices.