The most noticeable new feature would have to be the new Google maps application. It will now put a pin or tack on the desired address and also allow you to share the location with others.
A new sub feature of the Google maps was also added that allows iPhone owners to use "Street View", which will navigate you through street level photographs.
Garmin has a new competitor in the GPS business, as you also get "Public Transit" and "Walking Direction" modes. It provides arrival and departure times, check fares, and even an estimate of travel time.