This appears to have quite a few new features, including on location software tools for video production and also includes the new version of Encore CS3 to author DVDs and Blue Ray disks.
Looks like they are running an upgrade special- just $199 for the upgrade to Premiere Pro 2 and that then gets you get the upgrade to Premiere Pro CS 3 this summer for free. (To preorder CS3 it's $299.)
They have a Mac version too, btw!
http://www.adobe.com/products/premiere/