Here's a brief explanation of some of the new features:
Photo Albums:
Users can now create multiple photo albums and upload pictures to them. This can be accomplished by clicking the "User CP" link. Once on the User CP page you will see a new category called Networking. At the bottom of the category is a link for Photos and Albums.
Then all you have to do is create a new album and start uploading pictures! After you upload the pictures it will ask you to put in a description of the picture.
Social Groups:
Also under the new Networking category, is the Social Groups link. When you click on that it will take you to the Social Groups page. Here you can see which groups you belong to, and which groups are available to join. Users can create their own social groups, so feel free to make your own!
Better Profiles:
User profiles have been enhanced to display more information. The new layout may take a little while to get used to, but I assure you it's better
There are more features, but I will cover those later!