While there's no 4K support or game performance improvements, the new PS4 is quieter and less power hungry than the original design – plus it's much leaner.
And if you're tempted by Sony's updated console design, Tesco is feeling generous enough to give you £25 off the £249 price tag.
That means you can pick up the PS4 Slim 500GB for just £224, which is a pretty decent price for the new hardware, and might just be one of the best offers going right now.
All you have to do is enter the code TDX-HTNK at the checkout to get the discount. The deal ends on September 25, so you've only got until Sunday to take Tesco up on its offer.
If you're looking for the 1TB version of the console, it'll cost you £274 with the £25 discount. Just enter the same code at checkout.
While there's no 4K gaming, the new PS4 Slim will be getting HDR capabilities via a new patch, which should deliver more realistic colours and brighter whites.
Of course, you'll need an HDR-capable TV in order to enjoy the feature, so if you're yet to upgrade your set don't expect much in the way of visual upgrades.
But, on the plus side, Sony has added faster 5GHz Wi-Fi, bringing the PS4 in line with the Xbox One's connectivity.
Elsewhere, there's a newly redesigned controller which comes with a thin light strip across the top of the touch panel.
WATCH: PS4 Slim Unboxing
If you've picked up a new PS4, let us know what you think in the comments.