Remember this from my review of the latest non-touch Kindle?
One odd thing I did notice when playing with both devices today was that "page turns" on the Kindle 3 always flashed the entire screen (including the non-text border surrounding the content); on the new Kindle the entire screen is flashed every sixth page turn. This does make the transitions slightly less jarring, but again, the flashing (no matter how egregious), is something you won't notice after a while.
What I hadn't yet noticed when I published that piece (but did notice the following day) was how much the quality of the text fell off between full-page refreshes–it got worse with each successive "partial" refresh.
This latest software update adds a "Page Refresh" option that lets you choose which type of refresh you want the Kindle to use–"full" or every-sixth-page. I of course reverted to "full" refreshes, which is what every previous Kindle used.