Some of the key features of this upgrade are:

Titans: The largest, most fearsome space faring battle vessels ever created
Carriers: Front line capital ships providing fighter coverage and support for fleets
Bloodlines: The addition of Asian bloodlines available to each of the races
COSMOS Constellation Expansion: Addition of constellation missions to Gallente and Amarr territories
Fighters: The main offensive and defensive weapon of the Carrier
Starbases and sovereignty: Additions of roles to improve control access of services and improved calculations of player-determined Sovereignty
Next-Generation Manufacturing & Research Facilities: Mass-manufacturing enabling and remote industry management.
Performance Optimizations: Optimizations to core systems to provide even better performance.
Mining Industry Upgrade: New equipment, ships and skills for miners
Combat Enhancements: Varied improvements to combat, enhanced defenses and configuration overhauls
Jettisoned Canister Flagging: Removing the contents of a jettisoned canister that is not your own will flag you as a thief
Drone Enhancements: New drone capabilities and improved performance
An Eye for an Eye: You are allowed to revenge the unlawful destruction of your ship
Tech II: 23 new Tech II ships, including destroyers, battlecruisers and mining barges
New Corporate Logos: Corporations have more options to create their own identity
NPC Changes: New NPC's featuring elite ships with advanced capabilities such as cap draining
UI Improvements: Need info from Hagen.
Full Unicode Client: The EVE client now supports any language in the universe