Major highlights in the release include KDE 3.4.3, GNOME 2.12.2, XFCE 4.2.2, GCC 3.4.4 and a 2.6.15 kernel. This is also the first release with the Gentoo Linux Installer officially debuting on the x86 LiveCD, which will fully replace the Universal and PackageCD set. The LiveCD also features a fully-fledged Gnome environment. Later releases will include KDE support as well as a new LiveDVD.
You can check out the news release at the official site, and grab the downloads there as well. My LiveCD downloaded very quickly with the torrent, so you may want to take that route.