Some of these new improvements include more "netcode" and "tickrate" fixes, specifically for the "consoles" like the Xbox 360 and PlayStation "3".
Game Mode Improvements
General improvements and tweaks have been made to the following game modes: Rush, Obliteration, Obliteration Competitive, Capture the Flag and Carrier Assault.

Visual Recoil
Close and medium range optic reticules do not move with the gun any longer, however both bullet spread and bullet drop are still present.

Soldier MovementHUD TriageRevive Mechanic ImprovementsVehicle Balance
Identifying and tweaking the top vehicles in need of buffs and nerfs.

Weapon Balance
The next initiative on the CTE will be called the Teamplay Initiative. Here we will focus on improving teamplay and the objective aspects of playing Battlefield. This will include everything from Commander, Squads, Field Upgrades and Game Mode improvements, features and bug fixes.

The CTE for this particular update has been going on for the past two months now and is about ready to be wrapped up and shipped to the public.

(via Battlefield blog)