The Pointer Events Level 3 specification aims to improve support for various input devices by introducing new features such as the pointerrawupdate event for better tracking of fast movements, and methods like getcoalescedevents() and getpredictedevents() to enhance responsiveness in applications. It also brings updated properties for stylus orientation, replacing the less intuitive tiltx and tilty with altitudeangle and azimuthangle. The work is in the final stages before becoming a candidate recommendation, addressing implementation experiences and enhancing developer adoption.