For:

• Font ren­der­ing. This is how ClearType should have worked years ago.
• Improved stan­dards com­pli­ance. The Sun­rise Fam­ily site (live) now works with IE7 near-perfectly (i.e. no more or less bro­ken than most other browsers. On par with Fire­fox, worse than Opera and Safari.) Happy happy happy!
• Zoom. Note this is SEPARATE to font siz­ing. But it’s still a lit­tle broken.
• Home­page tab group isn’t an exten­sion or extra soft­ware that needs to be added. When­ever you add a home­page, IE prompts you if you want to make this your ACTUAL home­page or add it to the open­ing group of tabs. Play­ing catch-up, sure, but a good fea­ture nonetheless

Against:

• Font ren­der­ing. It’d be great if it could intel­li­gently antialias only san-serif fonts, and not process fixed-width or ser­ifed fonts, which it invari­ably makes “fuzzy” rather than clearer. Also, font ren­der­ing seems to be smaller by default, which is both a good thing — it’ll force design­ers to make their base font sizes big­ger — and a bad thing — in that, obvi­ously, those design­ers that don’t con­form will be sub­ject­ing users to painfully small text :-(
• Inter­face. Kudos for think­ing out­side the square, or what­ever, but I reckon peo­ple are going to strug­gle get­ting used to this. I know I will, but that’s prob­a­bly because I switch between at least five dif­fer­ent browsers daily and expect them to all behave about the same. I get con­fused when going between Mac and PC, mostly, because the key­board short­cut bind­ings change from Apple/Start — I’m using a KVM — and con­trol + [key] change, so Inter­net Explorer mov­ing any­thing around is bad for me, unless every­one else fol­lows suit.
• Bro­ken zoom resizes images + ele­ments in HTML fine, but on one of my sites strug­gles resiz­ing the back­ground on the body (or maybe html?) ele­ment. Also, it doesn’t keep (all) cen­tered sites cen­tered once you zoom. This will obvi­ously have to be fixed for the final release, too. I searched their news­group and couldn’t find any­thing so I posted some­thing about it quickly. Vote for it, please :-)