Microsoft is still trying to catch up to the feature reach FireFox browser, and today PCstats gives a bit of an IE7 preview. Given Microsoft still maintains browser dominance, there's a lot they need to do to keep it that way.
"PCSTATS looks at the new features which Microsoft plans to bring to the table With Internet Explorer 7, and examine how the underlying functionality of the browser has changed to better protect your computer. Internet Explorer has the distinction of being the browser most targeted by all forms of spyware, malware, and other nasties, so more security is always good news. Essential features like tabbed browsing are just the tip of what Internet Explorer 7 has to offer."
Security is a concern for sure, but extra features such as tabbed browsing and RSS support are a must if Microsoft wants to stay competitive.