
A new tool “Cavity Mask” was added to sculpting/painting, along with other improvements.Massive improvements to hair dynamics and editing tools: a big step forward with more to come….Modeling now allows custom normals, and transferring data layers between meshes!.Viewport has new cool compositing features, outliner now manages orphan datablocks better.Cycles got several precision, noise, speed, memory improvements, new Pointiness attribute.

Here are the release highlights according to the release note:

A new stable release of the professional free and open-source 3D graphics software, Blender 2.74, was announced by the Blender Foundation and the online developer community a few days ago at the end of March.
