Java SE 7 introduces several new and improved APIs. The key updates include:
1) New NIO2 libraries that provide better support for file metadata, symbolic links, directories, and asynchronous I/O. This includes a new Path class to replace File.
2) Updates to concurrency utilities and collections.
3) Enhancements to JDBC, XML processing, and client APIs for shaped windows and JLayers.
The document outlines the major new features in NIO2 including the Path class, file operations like copy/move, directory streams, file attributes, and file change notifications. It also briefly mentions updated concurrency and collections APIs.