While the bug fixes are welcomed and the retooling of the ranking system is nice, the most puzzling difference is that the free character that you first get when you download the game has been changed. Rather than getting Jago as your starter character, downloaders will now get Sabrewulf instead. This is part of the “Rotating Free Character” idea that is part of the game’s free-to-play model.
You can head over to Double Helix’s forum to get the low down on the specifics of all of the changes that have been made with the 1.1 update here.