Instagram has a pretty big update out (supposedly in prep for SXSW). The biggie here is the addition of tilt shift effect. After you take a picture, you can select which part of the picture you want in focus and blur out the rest (you can also control the degree of the blur). Another big change is the re-formatting of the 'News' tab. Under News, there are two tabs now, one of which is 'You' which basically shows you who's been commenting and liking your pictures as well as who's started following you (no change here). There is also a 'Following' tab where you can get a feed of what all the people you follow are doing i.e. whose pictures they're liking and commenting on and who they've started following.
New news feed and tilt shift features
The app update also includes the ability to email pictures and the choice to add a location without specifying a spot. One feature which the update description mentions but aren't really working right now are the ability to tap and hold on to someone's name to mention them. I've tried it on my main feed and tapping and holding someone's profile only took me to their profile page. Doing it while naming a picture wasn't it either. This function would have been exciting because it would have been one step closer to tagging people in pictures.