New features for this release that caught my attention includes:

• Multi-site support – Can support multiple sites in a single installation. Merged with MU.
• New default theme – After 4 years, they are now replacing their default to one they called “Twenty Ten” to take advantage of the new features of this release. They named it as such so they will remember next year that they have to update it again and the 4 year waiting period will be avoided.
• Custom menu management facility – allows creation of custom menus combining posts, pages, categories, tags, and links for use in theme menus or widgets.
• Support for shortlinks – Generate tiny url for your article
  
• Bulk upgrade of plugins – Time saver for us who manage it
  
• Custom taxonomies and post types

Here’s a video tour of the version 3 release

Video tour of the new release

If you have enough time to watch, see also the video below. It’s Matt Mullenweg’s (founder of WordPress) speech at the WordCamp San Francisco. It’s a good experience to listen direct from the people who created our favorite things and to be like in the same room with them.

Matt Mullenweg’s State of the Word speech at the 2010 WordCamp San Francisco

The only lacking member of the gang now is Chrome. I’m wondering how I can use this for my site.

If you want to get a high resolution version of the illustration, you can get it from Flickr.