The new license makes an explicit grant of patents on GPL code, and aims to prevent future Microsoft-Novell deals, in which patent claims are used for competitive advantage.
Torvalds is most unhappy about the "anti-Tivoization" provisions of the new license, which mandate that people be allowed to modify GPL code when it's found inside hardware. TiVos run on Linux, but can't be modified inside it.
In addition to Linux, GPLv3 also faces threats from Google, which prefers Apache licenses that protect its commercial rights.
So, are you making the switch?