Firstly, we won't be looking at ugly text anymore, but the images will be presented in the form of a nice grid, which in turn allows for more images to be displayed in a single page.

They say that they'll also be utilizing keyboard shortcuts in the new layout (like Page Down/Page up keys), probably for faster scrolling through pages.
The full list of new stuff follows:
- Instant scrolling between pages
- Larger thumbnail previews
- A hover pane, which gives you a large preview upon mouse hover
- A new landing page, which means no more click-click-get to image. Now you only have to pick the image once.
- Dense tiled layout
There'll also be some new kind of image advertisement, but you can read all about it on the Google blog.
















