I just came across this very helpful post at KISSmetrics: A Beginner's Guide to Google Analytics 5. It provides a great rundown of what's available in the newest (as of this writing) version.
Not sure if you're running the latest version or not?
Look in the top right corner of your Analytics screen. If you're using the old version, you will see a "New Version" link like so:
Simply click the "New Version" link to switch to the new (beta) version. You can always switch back if you'd like by clicking "Old Version" like this:
Go check out the Beginner's Guide to Google Analytics 5 for some great tips or to brush up!
(Also adding this tip to the Glossary page!)