Fedora 16 ships with the GNOME 3.2 desktop by default and all of the latest upstream bits (there's also KDE SC 4.7 for others), support for the latest version of the D system programming language, the GRUB2 boot-loader by default on new installation, systemd improvements, the EXT4 driver is being used for EXT2/EXT3 file-systems, many virtualization improvements (including OpenStack and Aeolus), and a heck of a lot of other original improvements by Red Hat engineers and the community. The official Fedora 16 features can be found on this Fedora Project Wiki page.
The Fedora 16 release is dedicated in memory to the passing of Dennis Ritchie, the co-founder of the C language and Unix.
The release announcement for Fedora 16 can be viewed on the announcement list with download links to the various ISOs.
Thanks for the great birthday present Red Hat! (It's also Matthew Tippett's birthday today too.) While Fedora releases are frequently delayed, strangely there's a good track record of Fedora releases shipping on 8 November. No other date has seen multiple releases of Fedora, except for today's date. This isn't the second Fedora release to happen on 8 November, but the third. Fedora 8 Werewolf and Fedora Core 3 Heidelberg were previously released on 8 November. Now off to do some Fedora 16 benchmarks, including a comparison of the power consumption, etc.