If you're looking to get the update faster, check for it with Garmin Express. Once it's there you can install it in a few minutes. If you wait for it to come OTA (by way of GCM on your phone), it can take quite a bit of time (hours) to get sent to the watch at BT speeds once it's "rolled out" to you..
Once the update is installed on a watch, the files used for the update (the GCD files) are deleted from the watch. The main FW is a few megabytes so that space gets freed up.
They are doing it in a "roll out", so to start, it was only available to 20% of the users. If you don't see it in GE, that just means your not part of the initial group.
This "roll out" delivery is actually common with Garmin devices. The 645 and 935 got new FW in the last couple days, and it's the same there.