– Biggest improvement will be switching to default live feed of what is happening with your friends.
– Filtered live feeds based on your friend groups.
– Update status and the ability to share posts, music, videos, etc. right from the homepage.
– Pages will be switched to look more like a profile. This means you can write on a celebrity’s wall directly.
TechCrunch is calling the live feeds a response to Twitter since Facebook’s acquisition bid fell through. I think TechCrunch made a weak comparison there. Facebook had a live feed option already available for quite some time already. They came out with that feature last summer as a matter of fact. Facebook probably just wanted to highlight that feature more since they already had it running in a small section of the social network. That seems more likely than to “respond to Twitter.”