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Sony talked about their next major system update to PS4 (1.70) at GDC, and now they've confirmed that it's due out "soon" - and it brings a couple of major features. First of all, ShareFactory - a new tool that will allow for easy editing of your video clips. You will be able to cut them up, add commentary tracks and more. Check out the trailer below for full details.
Update 1.70 also adds pre-load that will let you start downloading your pre-ordered games four days ahead of launch.