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Paragraph styles and OpenType effects
If you're working with text in Photoshop, you can now create styles either for paragraphs or character styles that control individual letters and words. You can use styles in multiple documents for consistency. Photoshop also finally adds support for the extra features that have been in OpenType fonts for a while now; ligatures, ordinal numbers and fractions are useful more often than contextual and stylistic alternates, but if you're adding fancy text to a layout it's nice to have the options. The new Type menu brings the text tools together and the new type-rendering engine has much better anti-aliasing.