The document summarizes the new features in Ring 1.5, including several new applications, improvements to existing libraries like StdLib and WebLib, and new capabilities like HTML page generation and interactive debugging. Some key changes are a video/music player app, Windows startup manager, calculator app, improved notepad functionality, new functions in StdLib like Print2Str() and ListAllFiles(), an updated WebLib with an HTMLPage class, and a trace library for interactive debugging.