The big change is in the Chrome Options screen which has been revamped and will now, according to the official blog, "help you get to the right settings quickly so you don’t have to dig endlessly to find a way to import your bookmarks or change your browser’s homepage." Instead of using the traditional menus, users are now able to type the setting option into the address bar instead.
The removal of the H.264 codec may not come as a surprise to many as Google said they would cut it out earlier this year due to a patent issue with a group of companies including Microsoft. For HTML5 content the browser still has support for Theora and WebM codecs, both of which are open source.
Check out Chrome's new setting interface video.