Its the morning after the community update and seem seemed to go well (the community is working at least)
We are still awaiting a full list of things that have changed but here are the things I have spotted so far:
Spiceworks News
All the latest Spiceworks news is now shown on the My Community Page to help make sure you don’t miss anything

Points System
Due to the outburst of point cheating the points system has changed.
You can now get points for windows even comments.
Insted of getting 10 points for every post you now one get one point per new topic you talk in, meaning it is more contribution based.
If you fill out all of your profile you automatically get 100 points.
Channels
There are now channels in the community but i have yet to find a full list of them, the networking one is http://community.spiceworks.com/channel/show/3-networking
Channels are aimed to help organise groups, If you visit the Networking channel you’ll see all the topics from groups like Cisco, DNS, etc.
Share-It
At the bottom of all topics there are now social media buttons so you can share something from the community on Facebook, Twitter, Digg, Linked In, and Reddit.

So hopefully Tabrez will post up a list of everything that has changed soon and I can do a full write up, but I think I got most of them.