The first Ubuntu release in 2012 codenamed "Precise Pangolin" is now in Beta 1. It's just a couple months away from final release. Since this is an LTS version, the rough edges currently in Ubuntu 11.10 should (hopefully) get a nice spit and polish.
Users with Sandy Bridge hardware will find RC6 enabled by default now. The benefits? Improved power management. That's always a good thing to have in any OS.
64-bit users get multi-arch support. Upgraders should be migrated automatically by Update Manager unless you've mess around with the system and removed /etc/dpkg/dpkg.cfg.d/multiarch. That means no more ia32-libs to provide 32-bit libraries.
Clickpad support sounds like another interesting addition to Ubuntu. It's not stated and I have no hardware to test it on, but it sounds like it should improve the behavior on those HP notebooks where the touchpad and touchpad buttons are integrated. I've encountered those before and it's really annoying to use. Hopefully, this improves the situation.
More info is available from the technical overview page.
As usual, remember to check out the list of known issues before diving in. A Beta release is still a test release. Expect things to break from time to time.