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Newsstand allows users to download magazines and newspapers from the iTunes App Store. Newsstand is similar to iBooks in a way, but allows you to download up to date magazines and newspapers in the App Store. You can read all kinds of content straight from your iOS 5 device -- as though you were reading it with that magazine or newspaper physically in your hand.
Not the most important of features, I grant you this, but having native dictionary support is something you will miss once you don't have it. From nearly any application, you can select and highlight text and "define" it with iOS 5's included dictionary, allowing you to look up words and find out what it means.
For iPhone users, iOS 5 includes custom vibrations as part of its accessibility feature set. It allows you to tap and create a custom vibration pattern for those who are visually impaired to determine who is calling or sending a message -- or simply to know who is calling without even looking at your iPhone. It also features an LED blinker to notify when a message has come through. Very useful for migrating BlackBerry users.
(Image source: TiPb)