Well yesterday saw the release of the much anticipated Django 1.0. Many years in the making its been well worth the wait. Now although there's been numerous changes I've condensed this to the top 5 changes:
1. Django Comments
Although this has been available in some form for a while it's recently undergone major changes during the Google Summer of Code which has resulted in a very powerful, yet flexibile comments platform for your Django app.
2. Refactored Admin Control
The admin area has had two major changes that will see a much cleaner and flexible control interface overall. Firstly is the latest newforms code bveing integrated into the admin. Secondly is the decoupling of models from admin interface. So gone are the days of subclasses within the models of your application.
3. Data Query Changes
Django's ORM has had some major additions and clearup recently with some nifty features added including:
- values() - This will get a list of related values from a table linked by one-to-many or one-to-one. Returning this as a dictionary it can be useful for constructing selection boxes. A similar feature to this exists in CakePHP.
- values_list() - As above but returns a tuple instead of a dictionary.
- update() - This method was added to enable updates of a value across multiple objects.
4. GeoDjango
I have absolutely no idea what this really is but everyone seems excited so I am too!!!! Woooohoooo!!!! 
5. Unicode
The average user won't care much about this but trust me when I say that the refactoriungs done with regard to unicode support will have a great impact.
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Nice forum!!!