This new update brings with it..
Inline tagging, yes now you can tag your friends in your status posts and comments, just start with the @ sign and pick a friend, just like on the desktop Facebook site.
You can now attach photos to messages and send. Didn't notice that this was missing, but it's a good thing.
You can multi-upload photos now too, so just select all the photos and upload all the photos to your album
And guess what? You can now save Facebook photos from your timeline, this was the one feature i was looking forward to.
Also included are of course, your usual minor bugs fixes and improvements.