The new version will have Flash 10.1 support integrated, this means that you don't need anymore to root your phone and get another ROM in order to have Flash, it will be integrated into the OS. Moreover, with this new update, you will be able to transform your phone in a Wi-Fi hotspot. This means that you will be able to share a mobile data connection (from carrier) with another computers/devices, either via Wi-Fi or via USB.
The home screen (launcher) will have near the "menu" button, a phone shortcut (on left) and a internet shortcut (on right), being available in whatever screen you will be. Installation of applications on the SD card is (finally) going to be supported on this new version of Android. You will be able to install as many applications as your SD card can store. An update is coming to Market too, making it able to update all apps with only one tap.
It is know that it will come in a few weeks, and as soon as Google will announce an exact date, I will let you know.