I've just been checking out the latest development version of Drupal 7 to see what this latest release will offer.

The official notes for the release are here:  http://drupal.org/node/156281

It seems like the main user visible changes are improvements to the user interface for creating new pages.

I've created a screencast of Drupal 7 in action 

Drupal 7 doesn't look radically different, better yes - but still basically the same thing. While I think this is in many ways a good thing I don't quite see how this amount of change justifies the Drupal policy of no backward compatibility.

From a development point of view each version of Drupal is a big step forward and certainly I would want to start any new project on the latest version.