The Fedora 11 release notes are available at FedoraProject.org. Among the new features in this bleeding-edge Red Hat distribution update is Btrfs file-system support, Nouveau kernel mode-setting, Thunderbird 3, improved graphics drivers, a faster boot process, DeviceKit integration, and so many other features.
Fedora 12 is already in planning for a release this November. Among the Fedora 12 features that are expected include replacing replacing nash/mkinitrd with Dracut, using Empathy as the default instant messenger over Pidgin, Systemtap static probes, much enhanced multi-seat support, and many other features that are still being decided. It's also expected that Fedora 12 will most certainly be using X Server 1.7 / X.Org 7.5 and likely the Linux 2.6.32 kernel.