A beta version of WordPress 3.0 was released last month and a few new features include

1. A new default theme replacing Kubrick
2. Allowing you to create new kinds of custom content
3. Moving WordPress into acting more like a CMS with the addition of a custom menu system
4. Custom background design

WordPress 3.0 also has a new menu feature which the video below shows what it is like.

You can download the update and take it for a test drive yourself. If you do, let us know what you think of the newest build of WordPress in the comments.