Preserving this article for my own reference since hopefully tomorrow I'll be applying this patch after I get my PS4 and update the hard drive!
Before everyone across the country hops online to download the day-one patch for Sony's next-gen console releasing tomorrow, you might as well prepare in advance.
You can get the PS4's 1.5 system right now, put it on a USB drive and have it ready to install immediately when your console arrives, no waiting to download the update.
But be warned: do it before installing any games or setting up any accounts. Sony says this update method will erase all users and data.
But in case you don't, Shuhei Yoshida says that's ok, too:
New PS4 users, no need to download FW1.50 now, when you connect your PS4 to Internet, the download starts automatically in the background :)
— Shuhei Yoshida (@yosp) November 14, 2013