I have yet to explore the depths of it, but the release notes are quite enticing.

Below is a list of the new features in jQuery 1.2. I’m excited about the new animation enhancements. You can now stop animations, animate by %, animate from color to color, and animate relative to something. These were all lacking before. Huge!

New Features

• Selectors
  • :has(selector)
  • :header
  • :animated
  • XPath Selector Plugin
• Attributes
  • .val() Overhaul
• Traversing
  • .map()
  • .prevAll() / .nextAll()
  • .slice()
  • .hasClass()
  • .andSelf()
  • .contents()
• Manipulation
  • .wrapInner() / .wrapAll()
  • .replaceWith() / .replaceAll()
  • Event Cloning
• CSS
  • .offset()
  • .height() / .width() for document and window
• Ajax
  • Partial .load()
  • Cross-Domain getScript
  • JSONP
  • .serialize() Overhaul
  • Disable Caching
• Effects
  • .stop()
  • %/em Animations
  • Color Animations
  • Relative Animations
  • Queue Control
  • :animated
  • step: Function
• Events
  • Namespaced Events
  • .triggerHandler()
• Internals
  • Documentation Move
  • Expando Management

View Full Release Notes