There's a new 'drop down arrow' that lets you rename or delete a tab. The big news is the new item in the dropdown that lets you 'share this tab' with a friend. This brings up a dialog box to email others your tab layout / gadget selection so they can add it to their iGoogle. Quite a nifty feature I must say.
In related news, a couple of weeks ago Google increased the number of available tabs in iGoogle from 6 to around 20.