Some changes (probably missing a few):

1. New fonts, stolen from inspired by the game Knave. (It’s really hard to find good-looking blackletters, it turns out.)
2. Somewhat clearer GM advice, slightly revised NPC HP values
3. New list of weird medieval names for PCs
4. Classes are now themed as “epithets,” item-based boons as “cantrips,” GM as “Games Marshal”
5. Improved many class abilities (especially the Hunter)
6. Time-tracking reduced, distance-tracking removed
7. Carrying capacity is now based on Strength
8. Damage for types of attacks is adjusted
9. There is now risk of someone else looting the dungeon
10. Injury now seriously drains your maximum HP

Overall, I’d say the game has clarified its focus a lot more. It’s about short campaigns and one-shots, without the idea that you’ll keep playing after knighthood with a castle. If you can pay your debt, you win!