The lights are on
If you have a 3DS or a Vita, you know how wonderful suspending your game and picking right back up can be. Unfortunately, the PlayStation 4 won't have that on Friday, but it will be patched in some time after launch. We're hopeful that it comes soon, because we confirmed the boot time on the console.
This morning during a demonstration, we saw a PlayStation 4 cold-booted. We roughly timed that at about 30 seconds and confirmed it with our own unit after setting it up.
For comparison, the PlayStation 3 boot cycle takes approximately 20 seconds (this is an original PS3 model). It's not an eternity, but anything that gets you into the game faster will be welcome.