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What I love: the 5x optical zoom. That's awesome to get more zoom in a still fairly-slim camera. The other improvements don't seem significant to me, but more zoom is always appreciated.
What I don't love: the lack of 720p video (1280 x 720). Canon's competition is doing it in their P&S cameras, why aren't they? I think I may try a different brand of camera, because video is a main use scenario for me on my P&S cameras, and I'm weary of being limited to 640 x 480. Maybe they're doing this to protect the turf of their TX1, but it's short-sighted not to continue to build improved video into their camera line...
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