I spent some time refreshing myself with the features that I should be seeing with the update, via an article from PCWorld.
Perhaps the best improvement is multi-touch support (I have only tested it in the native browser, but it works great). PCworld noted that it was absent from talks of 2.1, but indeed it is here, and is quite responsive.
Some of the features are a drastic improvement, such as the live wallpapers and the Photo Gallery. The photo gallery makes finding and viewing pictures easier and quicker. The live wallpapers add a nice touch, sprucing up the background, however I would assume it will drain my battery quicker (though I don't have the time or the resources to evaluate it specifically).
The news and weather widget is nice. It loads relatively quickly and provides you with a seven day forecast. Comparing it with the WeatherBug widget, it loads quicker for just checking the weather, but it doesn't have as much functionality (alerts, video, radar, etc). I do, however, enjoy the news tabs, which makes it easier to browse top stories in specific categories.
I have yet to see if there is indeed voice typing for all text fields, however there are a couple things I am not seeing in the update. I still only have 3 screens to load with apps, widgets, etc ,and there doesn't seem to be a thumbnail-based navigation system, as alluded to by PCWorld. There also appears to be no change to Application Launcher. I'm going to continue to test the new update and see if there is a setting or other odd tidbit that is preventing these features from working, and I will update accordingly.