I was hoping we would see some tabs-on-top stuff but I guess not. Nice to see the gigantic back button didn't make the cut though, the rest of the design still needs work.
I'd say:
Tabs-on-top
An IE button (as seen in Opera and now Firefox)
No More title in the titlebar (we already have tab-previews)
A shorter tab by default, even when there's only 1 open (gives the appearance of "extra space")
Also out of curiosity, if the bookmarks button is on the right side, does that mean the bookmarks menu has moved as well? That big side panel is on the left in IE7 and IE8 since the button is on the left. If the side panel is on the left but the button is on the right, it'll be one of those "WAT?!" moments for everyone.