When we compared the launch editions of the Xbox One and PS4 back in November, Microsoft's system had the definite edge when it came to the ability to edit captured video to share online at a later time. Sony has finally gotten around to playing catch-up on this feature with its latest firmware update, which adds new video editing features and other necessary system-level improvements.

The new ShareFactory app, available after upgrading to PS4 firmware version 1.7 today, adds the kind of robust video editing package that should have been a part of the system at launch. Players can now cut together video clips recorded using the PS4's Share button much more easily before posting them online and supplement their clips with video or audio commentary, custom soundtracks, and other special effects.

Today's update also finally brings the long-promised ability to disable the PS4's HDCP protection for games, allowing users to record gameplay using external capture hardware. Players can now also export saved videos via USB stick, for advanced editing on a PC. For those more interested in streaming live gameplay, the update also adds the ability to archive Twitch and UStream broadcasts after the fact, and it increases the maximum resolution for streamed gameplay to 720p.

Sony also seems to be taking a page from Steam's playbook with its latest update by allowing preloaded downloads for "select pre-ordered games from the PlayStation Store." These unnamed titles will be available to download "several days in advance" of their release and will be ready to play as soon as the clock ticks over to launch day.

There are a few more miscellaneous features included in the new update, including the ability to dim the brightness on the DualShock 4 lightbar and launch apps using voice commands picked up by the PlayStation Camera. The PlayStation Blog has a full list of the new features available starting today.

Microsoft offered a major system software update for the Xbox One back in February, and another just this month, adding necessary improvements to things like social functions, voice commands, and internal storage management.