Google New is not yet another product from Google, but is a place where you can see what is new at Google. Google releases products and features quite often and has several blogs to spread the news, If you are unable to keep pace with the Google new releases this is the place to visit to see what is happening in the Googland.
Google New default view shows the most exciting one on top of the page, now it is Google Instant, the rest of the new products are arranged in reverse chronological order. You can also customize the view by selecting the products you really care or use search feature to find what you are looking for.
Give it a try to Google New and see if you have missed anything from Google in the recent past.
Via Google Blog