Like most major distros, it's not that often that we see a new release from the Gentoo team. In fact, it's twice a year, which is still more often than few others. The difference with Gentoo though, is that the new releases are not always awaiting much anticipation, since the bulk of the updates can be had through the system updater, Portage. If you keep your system up to date, you already have 2007.0.
As far as software goes, KDE is still marked stable with version 3.5.5, as is GNOME with 2.16.2. Xfce has recently been marked stable for version 4.4, which has some nice changes over 4.3. Firefox is 22.214.171.124, OO.org 2.1 and the distro is built on a recent release of the 2.6.19 kernel. If you want to know what other applications are marked stable outside of the press release, you can take a look in their online repository list and see there.
Other notables regarding the x86/AMD64 versions is that GLIBC has now been updated to 2.5 and the AMD64 version includes updated emulation libraries for various applications and browser plugins.
There are no huge changes this time around, but the installer has had a complete overhaul, which will be the primary focus of this article since it's the main thing most people will want to use the Live CD/DVD for.
If you are a Linux user wanting to jump into the world of Gentoo, the GUI installer is by no means the first method of install you should go with. Yes, you've heard this before, but there is a reason. Performing an installation via command line helps you better understand how Linux, and Gentoo works.