Pros: Most built-in apps are 64-bit, under-the-hood improvements, Dashboard Expose
Cons: Pretty much the same on the surface, most users will not notice the difference.
The Bottom Line: With the GUI being the same, and very few noticable new features, we'll just have to take Apple's word on that there were under-the-hood improvements.
Review: With Windows 7 on it's way in, Apple released a "new" MacOS X version to try and take the steam away ...
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