Finally! Same 18MP sensor as the rest of the APS line. 9 cross AF points (obviously couldn't be as many points as the 7D but had to be better than the 550D somehow (same number as the 550D but 550D only has one that's cross) so that's not surprising), articulating screen (honestly there's nothing wrong with that - haters gonna hate), lower FPS burst than a 50D (fail), basic in camera RAW editing (that's awesome, btw), SD cards (cue the outrage / sd card owning rebel owners placing orders for 60Ds).
In other words:
how it's worse than a 7D: 5.3 vs 8 FPS burst, 9 vs 19 AF points (and no fancy af point group selections), 7D has dual processors, 96% vs 100% viewfinder, plastic body (however that plus little SD cards makes it 150g lighter than a 7D, which is definitely not a bad thing), you could argue the buttons. So like human interface stuff.
how it's the same as a 7D: same built in wireless flash control, same battery, same light meter, both have the electronic level, same movie recording resolution/frame rates, same sensor. So the pictures it produces should be the same as a 7D.
how it's better: Price, duh. Also articulating screen for movie freaks.