What I like in this update:
- Playing multimedia without leaving the news search results page. On the news results page they incorporate images and videos with "smart-motion thumbnails". What's nice about this is that you can watch the videos related to the news search you performed by hovering the video thumbnail and clicking the small Play icon.
- Related news searches. To the right of the news results (note this Google, to the right, not above or below the results!) you'll see a Related Searches list that shows up to 8 items based on the popularity of their searches (via the News interface?).
- They finally offer (some) news, as the headlines are updated "to the minute" if you use the Most Recent sort option - plus you can refine the news by the category they're part of (still shown on the right side).
You can give it a try too, say do a search for earthquake on Live Search and see how this compares to the same Google News earthquake query. I know, they say that the Live News Search updates faster now (even when using the Sort by Relevance filter), yet the newest result on Google News search is about the Illinois earthquake updated an hour ago, while the newest result on Live News earch shows as being updated 5 hours ago. There's some work to do here for the Live Search team, as availability is the most important feature for news - they'll get there soon as it seems they'll add news from blog sources too.