PS4 Firmware v1.70 releases in just a couple of days, bringing many features and improvements to the system, including recording of HD game footage to external devices, the SHAREfactory video editing application and more. PlayStation Japan has released a video to show more of the new features in action, but in Japanese of course.
The video demonstrates how the SHAREfactor application works, how you can transfer your game footage and screenshots to external USB devices and support for PS Vita TV Remote Play.