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Video recording and live streaming are already available day one and they work great I think.  I just wish I had the option of transferring the videos to my computer somehow.  Maybe you can but I haven't figured out how, anyone know?

I have shared a few videos.  1 from Killzone and 2 from Battlefield 4.  I believe you can only upload them to Facebook at the moment (though they can be viewed from the PS4 too if you are my friend).  Other than that  you can live stream your gameplay using Twitch or UStream.  Works pretty well.  For some reason the videos I record from Battlefield 4 have no sound, though.  Anyone else encounter this issue?