I think the design is slightly better as well, but there's not much in it. The size of it being smaller is very good, I'm impressed what they've done with that, as I'm sure most people are.
I'll need to see this screen next to an S3 to see if the 1080p is worth it - I suspect it probably is but I guess it depends on your perspective.
The last thing is the battery, it could provide some Note-esque battery life, in which case that will be pretty awesome.
I don't think the camera will be a massive improvement on the current top 8MP ones, but we need a detailed test to see that. The samples look fairly decent so far. Same for video.
95% of the (utterly horrendous) presentation was centered around the TouchWiz features that I don't think all that many people will use. They're party tricks more than anything. The 'dual camera' photo thing looks stupid - it doesn't create the type of effect they're going for at all, and would only be used rarely by most people. It's not a feature you should be leading with; certainly over something like being able to use the screen with gloves on!!
Then you have to remember this is Android, so a lot of the functionality (not all) they're discussing is already available/will be available if it's actually good.
Overall I think it's an impressive phone but it's not quite as far ahead of the HTC One and Xperia Z as I thought it might be, but there's no doubt it's the best Android phone out there at the moment, or at least it should be if it performs as expected.
Not sure how desperate I am for one at the moment though, I'll see how the reviews and user feedback stacks up to start with. I don't think the jump is as big as S2 > S3, whether you think it's a Galaxy S3'S' is down to your expectations. At this point in time I think expecting anything more than Samsung delivered was unrealistic.
The tech sites who have actually tested it seem to like it, but find it underwhelming - a GS3'S' - at the same time, which I think is understandable. Though the difference is slightly bigger than Apple's 'S phone' differences usually are so it's perhaps a bit unfair, but the point remains.