Expand, Collapse, Drill and Filter
Expand and collapse behaves just like a pivot table however with a slightly different UI. The new matrix experience is however entirely consistent with the chart drill experience so it is very intuitive.
The new cross filter behaviour is of course not possible in a regular pivot table in Excel (without VBA). You can select any column, row or cell in the matrix and it will cross drill the other visuals on the canvas as can be seen above.
This looks like an interesting change, and Matt shows how to enable the preview.