With the announcement of the Sony Ericsson Aspen, Windows Mobile has jumped to version 6.5.3. Sure, it's not Windows Mobile 7, but it is a step in the right direction. The latest version introduces some new features including support for capacitive touchscreen devices.
Windows Mobile 6.5.3 also has the following features:
Platform to enable multitouch
Touch controls throughout system (no need for stylus)
Consistent Navigation
Horizontal scroll bar replaces tabs (think settings>system>about screen)
Magnifier to bring touch support to legacy applications
Simplified out-of-box experience with fewer steps
Drag and drop icons on Start Screen
Browser page load time decreased and memory management improved
Browser pan & flick gestures smoothed and zoom & rotation speed increased
Updated runtime tools (.NET CF 3.5, SQL CE 3.1)
Arabic read/write document support
Watson (error reporting) improvements and bug fixes
Windows Mobile 6.5.3 also has the following features: