For those of you using Blender 2.41, Ton has started to post a list of changes that will be in the next version (which most of us are currently referring to as version 2.42).
The list is still in the works since there is the lengthy list at the bottom that will soon have descriptions. Along with the numerous changes, there is the node editing system that will be a major advance for materials and compositing. I am extremely excited about the render pipeline updates which inlcude all sorts of updates. Read about it and be amazed!