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DM235 said:
There will be a new version of the PS4. It will be the slim model. It will support the HDMI 2.0 specification, which will allow it to playback 4K content. Kotaku got it partly right.

There will be no difference in how it plays games.

This is what I think, as well. I think the upgraded PS4 will have HDMI 2.0, 4K Bluray drive, and its own hardware-based 4K upscaling. Of course, this is all coming from my ass, though Zoetis (the dude on GAF that said TLG would be re-revealed at E3) said that the upgrade is not going to be as bad as people think.