Here are some of the features:
1. Addition of depth render (1st hit only).
2. Addition of bidirectional path tracer.
[thin lens, cylindrical/spherical cameras, lafortune material not yet supported]
3. Enhanced material library manipulation.
4. Added improved perlin-noise procedural texture.
5. Procedural support of bump mapping, clip mapping.
6. Added normal mapping.
7. Added bevel mapping.
[an innovative feature found only in KT! forget about beveling in the modeler making meshes heavier - do it in the renderer itself!]
8. Material editor procedural texture support.
9. Material editor bitmap/procedural options support