Here's what the current site (www.bing.com) looks like which implies that this search engine will be out soon.
The revamped search engine will contain the following added features:
- A left-hand navigation pane for showing related searches which is based on the semantic technology taken from a firm powerset which microsoft has acquired for quite some time now.
The semantic technology provides an user the ability to ask questions in normal day to day language and it will be more effective and precise than google's technology. The current implementation of semantic technology in the search engine can be seen at this site.
The semantic technology according to me is the key area where the search engine will really have to perform otherwise they'll get nowhere near to taking the competition to google.
- It will also provide Category breakdowns for search results
- Bringing some information directly into the results page.