Version 3 of Adobe Lightroom brings very interesting (and sometimes needed) improvements.

Let's see them all, module by module.

General

• performance improvements, since LR2 was quite slow. LR3 is not as fast as we'd like, but scrolling in the library view and preview building is now visibly faster. The changes were also targeting catalogs with tens/hundreds of thousands of photos, where performances were unsatisfactory for an efficient workflow. Also, to improve performance, cache  can be increased up to 200 Gb (if you have enough room on your disk....).
• tether shooting: starting with some popular models of Canon and Nikon DSLRs. Shootings parameters in the camera can be viewed from within LR but for the moment cannot be changed.
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