A quick summary:
- faster (2x)
- longer battery life
- new antenna design
- fancy 8 megapixel camera
- voice integration (speak your texts instead of typing them, ask it random questions, etc.)
- location-based reminders ("remind me to feed the dog when I get home")
- availability on Sprint
No near-field communication (use your phone as a credit card), no 4G (which is still an ambiguous term), no new form factor, still no data connectivity during phone calls on Verizon, and not waterproof.
So not everything everyone wanted, but overall a very solid upgrade. I can't wait (till I can afford it =).