Yes. Some of the folks I follow here have already altered their banners. I haven't tried the bigger image resolution, but it's there when you want to submit one.

Both works, RD. I looked into submissions and they offer now 2650x1440px as the new limit after the previous 1280x1280px.

I set up a banner and also added a user title in my profile page settings which now gets displayed next to my username. Fun stuff. X3