According to the press release, here are the main features:

   * Intuitive user interface
   * Tabbed browsing
   * Improved text wrap
   * Page overview, zooming and panning
   * Landscape mode
   * Save Web page for future offline access
   * Call phone number from Web page
   * Send link as SMS/MMS
   * Send image as SMS/MMS
   * Small Screen Rendering™
   * Password manager
   * Web address input auto-completion
   * History and bookmarks
   * Copy text
   * Opera Widgets

Opera is trying to bring in the best of both worlds as their browser now should support PC-used standards such as Opera widgets, xhtml, CSS2, Javascript 1.5 and of Course FlashLite 3. It also embeds its small screen rendering technoloogy; I guess it is the same technology used in Opera Mini, that is an Opera server acts as a proxy for your mobile, capturing the web page for you and then rendering it in a format optimized for the mobile.

I wish I could test this new version... :)