The most significant addition is 3D Blu-ray support, something that the PS4 received in an update last month. It's taken far too long to arrive, but now you've got another excuse to crack out the Jurassic Park 3D Blu-ray.
Another welcome new feature is mobile purchasing, which now allows you to buy games and DLC remotely so that - assuming you've told your console to download updates automatically - you should have everything waiting for you when you get home.
The activity feed has also been given a scrub - you can now post status updates and comment on other people's posts.
But it's the controller low battery notification that's really brought a joyful tear to our eye. No more getting caught by surprise when the gamepad runs out of juice.
Roll up, roll up
Larry Hryb took to Twitter to confirm the update would start appearing on consoles today. Previously the rollout has taken a couple of days to complete, so if your Xbox isn't showing the update just yet, don't panic.
You can check out all the features in action in the video below, and read more over on Microsoft's site. Or, you know, just go download the update for yourself.
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Hugh Langley is the ex-News Editor of TechRadar. He had written for many magazines and websites including Business Insider, The Telegraph, IGN, Gizmodo, Entrepreneur Magazine, WIRED (UK), TrustedReviews, Business Insider Australia, Business Insider India, Business Insider Singapore, Wareable, The Ambient and more.
Hugh is now a correspondent at Business Insider covering Google and Alphabet, and has the unfortunate distinction of accidentally linking the TechRadar homepage to a rival publication.