Whilst it is a bit early to get an idea of the full changelog, some of the additions include Facebook inside Xperia, better battery life and faster scrolling. There does not seem to be an improvement on the video recording lagging issue though. For those that cannot wait for the update to hit your region, the FTF files are available to download and install through the Flashtool (tutorial here). Rooting via Gingerbreak is not believed to work. However, there is also a flashed rooted version available on xda-developers. There is no word whether this update has started to hit Xperia PLAY handsets, although it is not expected to be a long wait.