It looks like WordPress 2.5 will not include any new features; infact, Matt has been quoted as saying
“We are actually going to remove many of the features to build a lighter blogging engine, where users will only add the features they want via an add-on system”.
Critics speculate that such a system will only create confusion as users try to find the right image uploading tool for their version of WordPress.
Some of the features that are going to become add-ons for WordPress rather than built-in include the image uploading and management tool as many users do not like or use this feature of WordPress. The user management tool will also be removed, as most blogs only have one user.
Other things to be removed include the ability to create pages, manage links, import entries from other services, all comment management, and the dashboard.
I for one look forward to this new version, as I find WordPress to be much too slow, and I think a slim streamlined version will work great for around 80% of WordPress’ audience.