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Safari improvements include iCloud Tabs, Safari sync, offline reading, and ability to upload photos and videos to websites from within the browser. This actually is major for me as it looks like I can now post articles to ZDNet all with just the iPad.
Email improvements include better photo and video attachment support, funky new pull to refresh animation, and the ability to assign VIPs to your email. VIPs are synced via iCloud too so they will appear on your iPad and iPhone as well.
Shared photo streams: I never found much use for photo streams, but now with the ability to share custom streams to family and friends it makes sharing photos much better.