From the horse's mouth. The changes are decent. Everybody is talking about the UI. We ll see

Android Ice Cream Sandwich

http://googlesystem.blogspot.com/2011/10/android-ice-cream-sandwich.html

Google and Sam­sung launched Galaxy Nexus, the third Nexus Smart­phone, and Ice Cream Sand­wich (ICS), the new Android ver­sion that brings many of the Hon­ey­comb fea­tures to smart­phones. Ice Cream Sand­wich is the first Android ver­sion that will work on smart­phones, tablets and TVs, but today's launch only focused on smart­phones.