It is not only twice bigger than the first version, but it also add some useful features, such as the ability to resize the system space at first boot. You can choose to allocate from 150M to 3GB to the system space (which includes /home and modifications to the root filesystem), the remaining space on the FAT partition being used to share documents with other operating systems.
Of course, it also includes all the 2007.0 bugfixes available at the build time of this new image, and some additional Flash-related fixes: the infamous Xkb bug under Xgl is no more (the patch was roughly a chmod 1777 /var/tmp), and the loopback filesystem check at boot is more automated. Furthermore, the new Flash will fallback to a tmpfs filesystem if the ext2 loopback happens to be corrupted.
To conclude, I'll let myself quote myself from the press release :-)
"On this upgraded Mandriva Flash version, the space allocated to the system files can be chosen at first boot. This makes possible to install more updates and additional packages, in response to user feedback we got on the initial version"
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