Originally Posted By: hybrid8

The good:
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-You can now set the Sort tags when multi-editing metadata (the UI used to only appear when editing a single track)

This alone makes the upgrade for me.

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The Lame:
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-New grid view has no sorting options (it has options for what to show, just not how)

The options are there, they're just not in the same place as the "what" options. The "how" options are over in the "View" menu.

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-New grid has no options to change the displayed cover size

There's that little slider in the upper right for changing size (like iPhoto).

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-There's a "video" tab when editing metadata for files that are not video files

That one definitely looks like a bug, but on the plus side you can now change the file types that iTunes thinks something is. For example, I can download an MP3, put it in iTunes, then change the type to "Audiobook" and have iTunes treat it like an audiobook. This previously required AppleScript hacking or something. The big missing feature here now is that I still can't change a Podcast to "Music" or vice versa.

iTunes has always been a huge interface mess, and this update fixes a few inconsistencies, but probably adds just as many more.
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-Aaron