We've been waiting a few weeks for it, and it's finally here. Sony Computer Entertainment just released the 1.7 firmware update for the PS4, which is now available to download.

The update weighs 194 megabytes, and includes several prominent new features, like the SHAREFactory video editing suite (which is a separate download weighing 962 Megabytes available here. The manual can be found here), the ability to turn off HDCP, pre-download of pre-ordered games, USB exporting for videos and screenshots, HD streaming for Twitch and Ustream, DualShock 4 and PlayStation Camera improvements, additional functionality for the friend list and more.

Here are the full patch notes, that interestingly enough include quite a few features that Sony didn't announce in the highlights listed in its official blog post last night:

PS4 Update (1)

PS4 Update (2)

In addition to that, the file systems supported for USB storage are exFAT and FAT32, while NTFS is not supported. 

In addition to the firmware update on PS4, the 1.7 update is also available for the PlayStation App on Android and iOS, and the 3.15 patch is ready to download on PS Vita.