PowerShell tries to make up for the lack of a good CLI in Windows by adding advanced command-line tools and operations such as piping data between commands, manuals for each command, parameters auto-completion etc.
For example if you were looking to close all instances of Windows Explorer, you could do that by querying all the Windows Explorer processes using Get-Process, and then terminating then using Stop-Process to stop them all. You could do that in a single line as follows:
Get-Process -Name explorer | Stop-Process
The list of processes that match the name 'explorer' will be retrieved and piped to the Stop-Process commandlet, which will then stop them all.
PowerShell 3 is the next obvious upgrade -- it will probably release along with Windows 8 -- and a preview version is available for download right now. While PowerShell was released with Windows Vista, even the latest v2 is available for Windows XP as well. PowerShell 3 is currently slated to be released only for Windows 7, Windows Server 2008 R2 and windows 8Where to buy 24319 1721, not even Vista.
One of the major new features in PowerShell is a GUI for commands to help newcomers get familiar with the syntax. A new 'Show-Command' utility details the parameters each command can take, in the form of a GUI dialog. PowerShell also includes an editor -- Integrated Scripting Environment (ISE) -- which has received numerous updates. Windows PowerShell Web Access is being introduced, which besides provides a web interface to PowerShell, also exposes a REST-based interface to your commands. Also improved is command discoverability, remoting etc.