Released just a few minutes ago was Linux 3.16-rc4. Merged over the past week was just the usual assortment of bug/regression fixes with nothing too major standing out from my Git watching of the code; Linus has yet to send out his official 3.16-rc4 announcement with his few remarks. The 3.16 activity to point out though from the past week for Phoronix readers would be Radeon DRM going for BAPM by default.
While the Linux 3.16 merge window has been over for weeks, if you're not yet up to speed on the changes for this next major kernel addition, read about the Linux 3.16 features. There's a lot of good stuff with the Linux 3.16 kernel! We've started benchmarking Linux 3.16 while plenty more performance tests are still forthcoming.