What seems to be different compared to Black is that there is less contrast and noise reduction is more intelligent and it doesn't destroy details so badly, but still works very effectively cleaning noise from uniform surfaces. There is this certain clarity which wasn't presence in Black firmware photos.
Dynamic range looks wider when there is not too much contrast added during processing and shadowed areas reveal more details now. This makes photos brighter and more pleasant to look at when there is no need to blow out brightest spots of lights to make darker areas lighter.
I'm personally very happy to this firmware. Some of shots came out fantastic when i'm still learning this new firmware and what works best in different scenes. If you don't go over 800 ISO you should get decent photos. To my surprise most clearest shots always came out with 100 ISO and well over 1s exposure (free hands) at first try.