GStreamer 1.4 adds API support for raw/tiled video formats, there's OpenGL improvements for using GL inside the GStreamer pipeline, and there's numerous other additions at the API level. A new element to GStreamer 1.4 is v4l2videodec that is able to access hardware codecs on platforms where exposed via Video 4 Linux 2 (such as with the Samsung Exynos SoC), a new download buffer element, a new OpenNI2 plug-in for 3D cameras like the Kinect, OpenEXR plug-in for decoding HDR EXR images, and OpenJPEG now supports the OpenJPEG2 API. There's tons of other changes also throughout GStreamer Core, its plug-ins, and the RTSP server.
GStreamer 1.4 is the release talked about that makes OpenGL a first class citizen with now being able to properly use GL within GStreamer's video pipeline. There's also other prominent improvements documented a few months back on Phoronix albeit there isn't yet the DRM and Blu-ray support.
Find out more about the GStreamer 1.4 release via the announcement issued on the project's announce list.