Here are some of the differences to the Galaxy S:
– It has a 4″ Super AMOLED that is curved instead of being flat.
– It only records videos in 720×480 res instead of 720p HD.
– It has a LED flash. (SGS doesn’t have any)
– It does not have a MicroSD slot.
– It comes with Android 2.3 Gingerbread OS version.
– It has Near Field Communications support
To me, it seems Google and Samsung had to make some compromises.
Samsung obviously weren’t going to make Google a much better phone than their own flagship phone that is the Galaxy S.
So there it is. It’s not next-gen and it’s not better than the rest by any means.
But an improvement over the Nexus One nonetheless. (better screen, faster, NFC etc)
For more info about its features and tech specs: