UPDATE: PS4 system software update v1.70 now live, all details revealed

PlayStation 4 has received a major system update, adding ShareFactory, automatic pre-order downloads, higher quality streaming, easier Vita linking, and much, much more.

UPDATE:

NeoGAF users are flooding to the forum now to say they are downloading firmware update 1.7, which weighs in at 194MB. We've also received a tip that ShareFactory is a separate download at 972MB from reader @SunnySid3UpLife. Thanks for the photo!

While it's available to some, it may not yet be available in your region, so do be patient until it drops.

We'll have more as it comes.

ORIGINAL STORY:

According to the PlayStation Blog, we can expect the update on April 30, US time.

Along with PS4 software v1.70, Sony will also release updates for Vita (v3.15) and the PlayStation App (v1.70) in support of changes to the PS4's system software.

Here's the full feature list for all three:

PlayStation 4 v1.70 Update

• SHAREfactory: After you update your PS4 to v1.70, an icon to download our free SHAREfactory app will appear on your PS4 system’s home screen once it’s available. Once installed, SHAREfactory allows you to easily customize your gameplay videos with special effects, video commentary with picture-in-picture capability through PlayStation Camera, and custom soundtracks using the included audio tracks or your original music imported from a USB drive. You can then share your videos on Facebook or export them to an external USB storage device.
• Automatic Pre-download: No more waiting until after a game is released to start downloading select pre-ordered games from PlayStation Store. This new feature allows you to get to your games faster by automatically downloading select pre-ordered games up to several days in advance of the release, so that it’s ready to play as soon as the game is released on launch day. There’s also a countdown timer prior to the release of the game so you’ll know how soon your game will be available for you to start playing.
• Option to Disable HDCP for Games: This highly requested feature will allow you to have the option to turn off HDCP for games so you can capture longer gameplay sessions directly from your HDMI output and export them elsewhere.
• USB Export Option for Captured Gameplay: It’s now even easier to show off your heroic gaming moments and the SHAREfactory videos you create with the world using this feature to export your videos and screenshots to a USB drive. Just click on the DUALSHOCK 4 SHARE button, save your gameplay on a USB drive, and then share your proudest achievements on other social networks and other video platforms.
• Live Broadcasting in HD and Archiving Support: We’ve increased the resolution for live broadcasts so you and your friends can watch games livestreamed in 720p HD. You can also archive your broadcasts on Twitch or Ustream and watch them again later.
• New SHARE Options: We’ve got a number of new SHARE settings that will give you better control of what you want to share with your friends. Here is what you can look forward to:
  - Change the default gameplay recording time in the SHARE menu under Video Clip Settings.
  - Save only the video clips and screenshots you want by selecting Upload Screenshots or Upload Video Clips for each capture. Also upload video clips and screenshots during your live gameplay broadcasts.
  - Select specific Facebook audiences to share each video or screenshot with.
• New DUALSHOCK 4 Options: New light bar settings have been added for DUALSHOCK 4, allowing you to change it to Bright, Medium or Dim in the Settings menu. The touchpad has also been updated, allowing you to navigate the on-screen keyboard using the DUALSHOCK 4 touchpad.
• New Friends Options: It’s now easier to find Friends and send requests with the ability to search Friends-of-Friends, view Mutual Friends on another user’s profile, and accept Friend requests directly from the Friends list.
• New Trophies Sort Option: You can now sort Trophies by rarity in the Options menu.
• PlayStation Store Payment Support: Similar to PS3, we’re introducing Alternative Payment Methods (APMs) for PS4 for content purchased on PS Store, starting with PayPal support.
• More PlayStation Camera Commands: More voice commands are added to PlayStation Camera, allowing you to launch the apps installed on your PS4 with the sound of your voice.
• New PlayStation Plus Icon: For Plus members, you’ll now have the PS Plus icon appear next to your SEN ID on the login screen, home screen and other areas across the PS4 system’s sleek user interface.
• Music Unlimited SHARE Options: With a Music Unlimited subscription, you can easily share your favorite songs with your friends by pressing the SHARE button on your DUALSHOCK 4.

PlayStation Vita v3.15 Update

• PS4 Link Update for Remote Play: Linking your PS4 and PS Vita together will now be easier with the 3.15 update for PS Vita. It’ll enable Automatic Device Registration, which will automatically detect and pair both systems when they’re both online and the same user is signed in to both devices. This makes it even quicker for you to get started on Remote Play or access other second screen features.

PlayStation App v1.70 Update

• Push Notifications, Friend Requests and More: This new PlayStation app update will give you the option to receive Push Notifications for select PS4 updates you want to receive, such as gameplay Invitations, Game Alerts or Friend Requests. You can also receive Friend Requests via email or text messages with the app update. Also, it’s now easier to change your profile picture right from your mobile device by uploading an image from your photo library, or taking a photo using your in-device camera.