Picasa Web Albums has many new features.
* Uploading videos. Until today, only users that paid for extra storage could upload videos. Now anyone can do that, but only using Picasa. Another option is to use Google Video to upload unlisted videos.
* Prints. You can now order prints for your photos, but number of options is small.
* Tags. Picasa Web Albums lets you tag your photos. You'll find the option in the sidebar.
* Search. You can search your photos, a certain gallery and your friends' public photos. Google indexes captions, tags, album titles, album descriptions, and album locations.
If Google adds ratings, date search and photo editing, I can say Picasa Web Albums is almost perfect.