A lot of what will be introduced in Tiger has not been announced yet. Among the rumoured but unconfirmed changes are significant changes to themes/appearance.
The official run down is here:
http://www.apple.com/macosx/tiger/
Features
Spotlight: A new search technology that searches metadata for instant search on files, email, bookmarks, websites, contacts, photos, videos, songs ... all at once.
iChat AV: some new features (3 way chat, new codec)
Safari RSS: This one I'm quite excited about. Safari will now have a very slick RSS reader/searcher.
Dashboard: a kind-of cross between Konfabulator and Expose, only written in Java rather than Javascript.
Automator: Automate manual, repetitive and batch tasks with point and click simplicity. There's some rumour this might be dubbed "pipeline" instead. Basically, its a way of setting up a whole series of complicated tasks in quite a simple, visual interface. The power of AppleScript, without having to actually write a single line of script.
VoiceOver: Access the Mac through speech, audible cues and keyboard navigation for the visually impaired.
Xcode 2.0: lots of new features rumoured for this, should be good for developers.
64-bit: Most if not all of the apps that ship with Tiger will be optimised to run on G5. "Fat binaries" mean they'll also be optimised for G3 and G4. Basically, the compiler creates 3 different executables in one, and the OS automatically selects the best one.
Core Image and CoreVideo: these new technologies will allow developers to perform more video and image tricks in their apps than ever before, applying filters and blends and all sorts of motion and trickery. This means that a lot of new 10.4 only apps should start appearing that take advantage of these features.
Other things rumoured are a further revised Mail.app, and improved security features. It's been said that 10.4 will encrypt virtual memory.