There are some good news with this winter 11 release, some governor limits are removed and some are increased like :
1) Total request time for one callout (HTTP request or web service call) has been removed.
2) Maximum size for a callout (HTTP request or Web service call) has been removed.
Increases to existing limits :
1) General heap size has been raised from 2 MB to 3 MB, with no scaling. In addition, batch Apex heap size is 6 MB.
2) Apex classes and triggers have been raised from 100,000 characters and 32,000 characters, respectively, and can now be one million characters long, not counting comments, test methode, and classes defined with @isTest.
3) Maximum ammount of Apex code allowed in an organisation has been raised from 1 MB to 2 MB.
4) Total number of ChildRelationship, RecordTypeInfo and PicklistEntry objects allowed and total number of fields calls allowed has been raised from 10 to 100.
Also in add on results of query in test class is increased from 500 to 10,000.
Visual Process Manager
Also with winter 11, you can now upload and manage business flows in salesforce.com. Visual process Manager, also known as Force.com Flow, and formerly known as Firefly, provides a robust business-friendly call scripting interface on the Force.com platform.
Apex Code Enhancements
1) isRunningTest method for system : Return true if the current executing code was called by code contained in a method defined as testMethod, false otherwise. Use this method if you need to run different code depending on whether it was being called from a test.
2) Void No Longer Accepted as Variable Type : Prior to winter 11, you could assign viod as a variable data type. While void is still an acceptable return type, you can no longer use it as a data type. For example, for all apex code saved using salesforce.com API version 20.0 or higher, the following is no longer valid :
Public class test
Public void test(void arg1)
Custom Field Enhancements
Rich Text Area Field : There are two enhancements done in Rich Text Area in winter 11
1) Inline editing is now supported for richtext area field on detail page.
2) You can upload image to rich text area field from the salesforce.com API version 20 or later.