Sony has officially confirmed their project "Neo" will be an upgraded PS4. There were several leaks regarding the system upgrade in the past couple months and it would appear many of those rumors are now confirmed. The Verge (initial source is Financial Times but they have a paywall) says we can expect faster processing, 4K support, and enhanced graphics. Sony chief executive Andrew House says both the standard and this new deluxe version of PS4 will be available in the console's lifecycle.
It was once rumored we would be hearing all this at E3, but it would appear that's no longer the case. No price point has been discussed either so really the only new information here if you've been following is that project "Neo" is officially a thing and most of what you already know about it is true.
PS4 owners will you be upgrading?