It's a damned fine update. Lots of nifty UI goodies. Lots of ship rebalancing to play with. First things first though:
The user interface teams have been on a serious roll since Crucible. They keep making the game easier, prettier, more intuitive to use. Retribution 1.1 is chock full of their goodness, and this is simply a point release. Routes in space. The new info panels and their configurability. Drag-and-drop fleets.
I know there's more important stuff, mechanically, in each expansion/update: crimewatch, ship rebalancing, faction warfare improvements, new gate mechanics, that sort of thing. But every expansion, every point release, I look forward more to the new bits of magic the UI teams will release, than any of that more important stuff.
I like a game that makes it easier for me to interact with it. And that's what the user interface teams bring to the table. That's the sort of stuff that gets me excited about patch day.