This morning I logged on to Gmail to discover that the user interface was updated overnight. I haven’t seen this mentioned anywhere else and it might be possible that I’ve just gotten to be one of the lucky ones to have the new UI.
The most noticable change is the row of button along the top of the message list. They’ve gone from oval to square, with a nice 3d finish to boot:

The drop-downs for Move to and Labels have undergone a functional makeover as well:

Typing any amount of text in the search box at the top will reveal only those labels containing the text. If you have many, many labels, this is a nice way of narrowing down the list. The same functionality is present in both the Move to and Labels drop-downs.
Update: I see Google now has a blog entry about the change.