From here.You can spend time in town to assess trade routes and it will tell the best destinations and profit per item.
It seems like parties nearby on the world map can join in battles (that you are in the battle screen)
You can't recruit units anymore except for the caravan guard line (probably a bug)
No more armorer or merchant in Zendar (probably a bug too)
At least two new NPCs to join your party (one of them is quite powerful )
I am assuming you can build up a village like in the Battle for Sicily mod, but I haven't figured out how to do this yet. (says the engineer skill reduces costs of town improvements)
Tavern owners do nothing now (bug?)
No more merchant quests (bug?)
No more lord quests (bug?)
Khergits are now a joinable faction + Nords and blue one I forgot name of (capital is Veluca)
Can now cross shallow part of rivers on world map
Can extort trade goods out of villages and take a relation hit with its owner
Can loot villages for much gold (500-1000) and an inventory screen full of trade goods
Can spend time in allied castles and cities instead of using inns now.
NPC lords lead armies in the field (those stupid kings must have tactics 500 )
Traveler NPC appears in tavern and sells faction information
Ransom Broker NPC in tavern offers to buy captured troops (not sure if this is implemented yet, just works like the slave trader)
Much bigger battle map
Units enter battle map more slowly (allows time to set up formations and use tactics commands)
Advance in formation tactic
Spread out and Close ranks tactics
Hold position tactic now actually holds position (will barely move out formation)
Horse archers still charge out ahead but don't seem to commit suicide anymore (unless their horses get shot out from under them)
New helmets and Horses
Changed stats of all items
Morale implemented now, increases and decreases based on party size, leadership, food variety, and recent successes (says that it affects movement speed on map)
No more shops closed at night time
Arena kills give much more XP (I got ~70 for kills when I was level 2)
Sieges on Castles and Cities
escort caravan gives more denars now
no more neutral caravans (only aligned with factions)
haven't seen any black knight parties (can't remember exact name)
starting parties on map much larger in size (early river pirate parties have ~50 men)
can make a camp to rest outside of town (can view your renown and honor which doesn't appear to be update on the quest screen)
updated quest screen now lists info about villages, cities and castles and the nobles and kings that own them and garrison sizes (if you have gathered this information in the past (it says how many days old the information is))
units legs and arms move temporarily after they get knocked down
new world map (better ocean and forests, side view, and compass, also can move view with wasd when your party is still moving)
seems like combat AI much improved (especially horseback units)
Additionally, there seems to be ragdoll physics, looting in the middle of battle for weapons and new factions. Can't wait to update and play.