Definitely good news, as MySQL came out during the peak of Moore's-law (or, more appropriately, a misapplication of) fueled idiocy where nobody seemed interested in investing in better performing software, since they all expected they'd have faster hardware next year. Now everybody's deploying to VPSes, so it's once again important that we get the most out of every single CPU cycle. I haven't gone through all the diffs, but if they're promising 2x to 3x improved performance, there must have been some pretty fundamental rewrites of old code.
Coming from the Oracle + DB2 world, what I'd really like to see is some improved performance analysis and query optimization tools. There have been some incremental improvements to EXPLAIN (the new 'EXPLAIN on a named connection' feature seems pretty cool for when I have 10+ application instances all connecting to my DB), but it's still got a long way to go.