This Service Pack includes number of feature enhancements along with the bug fixes. Major enhancement for me is the HTML 5 support and IntelliTrace (formally known as Historical Debugger) for SharePoint.
Here are some of the major enhancements:-
General
- Many Bug Fixes
- Help Viewer 1.1
- Sliverlight 4 Support
- Basic Unit Testing support for the .NET Framework 3.5
- Performance Wizard for Silverlight
- IntelliTrace for 64-bit and SharePoint
- Detecting mixed-mode installations
- Software rendering (for Xp and Win2k3)
Web development
- IIS Express support
- SQL Server CE 4 support
- Razor support (Introducing "Razor")
- Web PI integration
- Deployable dependencies
- HTML5 and CSS3 support
- WCF RIA Services V1 SP1 included
XAML Editor/Designer
- Go To value definition
- Style IntelliSense
- Data source selector
- Advanced grid commands
- New Thickness Editor
- Sample data support
- Increased stability
C++
- MFC-based GPU-accelerated graphics and animations
- New AMD and Intel instruction set support
- Visual Basic Runtime embedding
Also Microsoft has release Service Pack for TFS 2010. If you are using TFS then it is a must have for you. For further details you can go to Brian Harry's blog.