Of course, almost every upgrade (be it an app or an OS) will claim "bug fixes and performance improvements"! There may be a slight overall performance improvement. The main new features are these: the very first upgrade, which came almost right after I bought my NGP two weeks ago, introduced B&N Readouts to the NGP. A later upgrade added compatibility with Adobe DRM ePubs and PDFs (but, from what I'm told, ADE won't recognize the NGP because the NGP uses MTP). The odd thing is to go to one of the NGP threads in mobileread.com and see how different users have different firmware versions, and how the latest updates aren't even on the B&N site.