My favorites of the update:
- Increased the drop rate of high runes.
- Nightmare/Hell WilloWisps champions/uniques have had their damage greatly reduced.
- Greatly reduced the explosion damage dealt by Fire Enchanted monsters.
- Removed Oblivion Knight's Iron Maiden curse.
Looks like they're trying to make D2 a little more accessible to the casual gamer.

- Respecialization is now possible! Completing the 'Den of Evil' quest will now additionally reward 1 free respec which can be saved. Players who have already completed this quest should receive 1 free respec in Hell difficulty.
I'm guessing this means you can reset all of your skill points and try a different branch?

- Updated two Act 5 mercenary names to Klar and Tryneus.
Odd, I wonder why they did that?

- Support for blit scaling in windowed mode. The game can now be maximized to the largest 4:3 resolution supported (hooray widescreen users).
- Added the windows system buttons to the game window (MIN, MAX, CLOSE).
Looks like a couple of nice graphics/IO improvements are in order too

-Blessed Hammer - No longer ignores resistances of undead and demons.
-Lightning Mastery - Reduced overall effect by 15%.
And what we all knew would come, a little power character (Hammerdin and Lit Sorc) tweakage.

-Corpse Explosion - Increased base damage dealt from 60% - 100% to 70% - 120% of corpses health.
Yay Corpse Explosion!