Also, my two-hundred-and-twenty-fourth podcast is up and I talk more in depth with, yes, you guessed, it, Phil Haack. More detail in a less shaky-camera format.
What's new in ASP.NET MVC 3?
Note that installing ASP.NET MVC 3 won't mess up your ASP.NET MVC 2 applications.
Razor Syntax View Engine - Cleaner view syntax
Dynamic View and ViewModel properties - passing data between controllers and views using dynamic rather than a dictionary
"Add View" Dialog Box Supports Multiple View Engines - You two can be in this box.
Service Location and Dependency Injection Support - Get your DI hooked into controller factories, dependency injection, action filters and View Pages.
Global Filters - put filters on the all control methods
New JsonValueProviderFactory Class - Model bind directly to JSON-encoded data
Support for .NET Framework 4 Validation Attributes and IValidatableObject - Easier validation including validating one property based on another.
New IClientValidatable Interface - Discovering at runtime if the client supports validation.
Support for .NET Framework 4 Metadata Attributes - Support .NET 4 specific attributes like DisplayAttribute
New IMetadataAware Interface - Write your own attributes to contribute to the ModelMetadata creation process.
New Action Result Types - HttpNotFoundResult, HttpStatusCodeResult.
Permanent Redirect - More easily return 301s for Actions, Routes or any URL.
Read more: Scott Hanselman