I’ll speak to MY clients. First and foremost, METADATA MANAGEMENT–tags and content types. Huge! Second, user experience–MUCH improved UI and integration with Office. Third, relational list capabilities. Fourth, social.
Managed Metadata is certainly one of the most utilized new capabilities
But there are significant improvements in each of SharePoint’s capabilities. TRULY significant ones–not just ‘hype’–so it really depends on what your business needs and is doing.
<i>This question was answered by Spencer Harbar, Enterprise Architect at Microsoft and Dan Holme, Consultant and Trainer, Intellium.</i>