A nice overview of the changes can be found here, with a more technical look here.
The latest version of Linux offers a whole host of new features – for example a USB 3.0 infrastructure, drivers for the Sound Blaster X-Fi, KMS support for Radeon chips and improved versions of Btrfs and Ext4. As is traditional with new Linux versions in the main development branch, however, this is only the tip of the iceberg.