Originally posted by ShaftAlmighty:

Hearth&Home added a few new foods as well as food balancing. Now most foods favor either stamina or health.

Next update added the Abomination, the swamp's answer to the Black Forest troll. A new set of armor with unique bonuses. Tar pits in the Plains as well as tar blobs. It also added new building pieces.

The latest update added Mountain caves, a couple new enemies and a new set of armor and a fist weapon.

And new loot drops in the caves, Stuff like fishing poles can drop now from what I hear.

The revamping of food and locking some things behind more food cooking upgrades really have a big impact on progression... but again if you are unwilling to start a new character you won't really appreciate all the work that was done.