Architecture improvements
Moved to ASP.NET MVC 3.0 (Razor syntax)
Really pluggable architecture (just drop a plugin to the /plugins folder in your nopCommerce directory)
SQL Server Compact support
Code-First Development with Entity Framework 4 (data access)
More flexible ACL implementation
More user-friendly admin area
Added unit tests
Improvements
Performance optimization
reCAPTCHA integration
New tier prices implementation (now can be configured based on customer roles)
Several discount requirements can be configured per discount
Allow store owner to create a new purchased gift card without placing an order
Some of existing discount requirements didn't work for guests
Search for customers by name in administration
Merged product reviews and ratings options.
Email wishlist to a friend
Admin area. Show operation status after it s completed (Save, Delete buttons)
New installation wizard (The orchard project contribution)
Simplified register page. Removed a lot of fields that were not used at all.
Fill the "EstimateShipping" module on load with the country/region/zipcode of the current customer
Allow store owner to manage the number of product tags that appear in the tag cloud
Removed warehouses and pricelists features because they were useless
A lot of refactoring and other improvements
Bugs
Tax rounding issue fixed
Some shipping issues fixed
Download catalog as PDF. Currency values had 4 decimal places
Select payment/shipping method radio button text was not clickable
Hide prices for non-registered customers didn't work on tier prices
Renamed PayPal PTI to PDT
MS Excel importing issue fixed
A lot of other bugs fixes