I upgraded to Internet Explorer 7.0 yesterday, because it was free and my computer prompted me to do it, and eventually, not updating your software leads to incompatability problems and unfixed security glitches. It is not obvious to me that it provides any benefits over its predecessor that matter to me.
The significant enhancements in IE 7 include: tabs, RSS, phishing detection, and slightly improved support for web standards. If you haven't been using tabs, that's the single biggest change.
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