Only 1 top story is expanded by default.
For each story, there's a featured article and only 1 or 2 other direct links. Big stories may have a local article and a Wikipedia link. There's a new viewer for images and video similar to Fast-Flip (no more 1-click play for Youtube video), and the sharing buttons are always visible in expanded stories.

Collapsed stories have a very minimal design with only one direct link. You can't expand a story with any keyboard shortcut: it worsens further the navigation experience which was already terrible compared to Google Reader.

Finally, they've killed the "news feed" views.

Screenshots below
http://i.imgur.com/Tc6LX.png
http://i.imgur.com/2X5d4.png

I missed some types of story links:
- "Most cited"
- "In depth"
- related topics

There've added an distracting and useless animation that slides-in the images when expanding stories. The interface looks very cluttered once you've expanded several stories.

I don't like this trend (cf. https://lh3.googleusercontent.com/_UhZZyEVmtlg/TZOog3JMKRI/AAAAAAABLAg/sdncHLKAZa0/s800/Screen%20shot%202011-03-30%20at%2011.59.50%20PM.png)

I don't have this design yet. But it looks hideous.