iOS 4.2 is a whole new iPad?

Apple is sending out an email telling iPad owners that the just released iOS 4.2 will make them feel like they have "a whole new iPad":

The free iOS 4.2 Software Update has so many features, downloading it is like getting a new iPad. Just connect your iPad to your computer to get new features like multitasking, folders, wireless printing, and more.

They obviously want to encourage everyone to get on the latest firmware but given how great a difference iOS 4.2 for iPad is compared to iOS 3.2, is it really a much bigger deal than usual? If you've updated already, what do you think of the difference? Is iOS 4.2 like getting a whole new iPad?