For me, this is the first game changing feature that sets Next Gen apart.  To be able to play games with your friends is amazing.  To be able to play games with your friends that they don't own the title is even better.  I can't wait to show off my skills to some friends overseas while allowing them to help me in the process.  

I feel everything else so far has had a been there done that vibe.  Who else is excited for Share Play?    

There are three modes of operation:

1. Display host’s game screen for visitor: the host has control of the game.
2. Visitor plays instead of the host: the visitor has control of the game. For this particular mode only the host needs to have a PlayStation Plus subscription active.
3. Host and visitor play together: both host and visitor can control the game. Only for this particular mode both host and visitor need to have a PlayStation Plus subscription active. The visitor will automatically log out from the PlayStation 4 of the host at the end of the Share Play
4. Of course the visitor does not need to own the game, as we already know.

Source: 

http://www.dualshockers.com/2014/10/17/ps4-update-2-0-sony-shares-a-lot-of-info-on-share-play-broadcast-and-live-from-playstation-improvements/

The Share Play feature, which is built into the party chat app, will also follow the rules below:

• You can be in a Party with 8 people, but Share Play can be done only with one of them at the same time. The rest of the Party won’t be able to see the screen, but will still be able to chat with host and guest.
• When the host is visualizing any other screen than the game being shared, the guest is shown a “stand by” screen.
• The Share Play time is limited to one hour, and the remaining time is visualized in the Party screen, but you can start a new session immediately after the one before expires.
• Certain games may have scenes that cannot be displayed during Share Play.
• While you use Share Play, livestreaming and remote play are not available.
• The guest cannot save video clips and screenshots during share play.

I am interested

Too many restrictions to make it anything more than a gimmick.

Some people with PS4s don't even have enough friends to make this work :(

Hmm... It depends on how many games have it cause will all games be able to do this or do u have to enable it in certain games? I also don't really like the whole, 1 hour limit but I guess it is "free"? (I am guessing you need ps+ for this but correct me if I am wrong)

Idk, I like steam's method better where u can share ur games with 10 different friends and they dont have any restriction on the time limit. The only restriction is that multiple people cant play the same game at the sametime (unless you go offline that is)

This will be a cool feature. Since no one wants to release demos anymore then this will work just as well, if not better.

That doesn't exist on next generation systems though, this does.  As far as I understand this uses Gaikia technology, so every 2 player game that uses the same screen should be able to do it, that is also why it has the same screen setback.  It does require that both participants for 2 player action must have PS+.  For all other modes only the host must have PS+.

What? Are we reading the same stuff? what kinda restrictions are you talking about?

The most important things are these two points 

1. Visitor can play host games
2. Host and vistor can play game together.

from what they said, every game will support shareplay. Its not a developer based feature. its a system wide feature. 

And the steam system you were talking about. You could do that on the PS3 with digitally downloaded games. You could share you account with a total of 5 people. I think they scrapped that cause it naturally would be abused to hell and back.

Being able to play for more than an hour, without having to start a new session.

Being able to record, stream, and use remote play.

Being able to play with more than 2 people, assuming the game allows for it.