I've been using Instagram far more than I have recently and that's thanks in part to the app's recent updates. Certain aspects and features such as the user interface and sharing capabilities have greatly improved. Having been acquired by Facebook, I wonder how much of the design change has been implemented by the parent company. Furthermore, the connection to another app, Foursquare has also been more prominent as well. This update allows users to geotag their photos but if you value your privacy, you may want to limit this feature.
The main interface still maintains the minimal look as before. Updated icons, buttons and menus are certainly more appealing and are a treat visually. Twitter users will no longer be able to find and their associates through the Options menu, as it has been completely cut off. This is not Instagram's fault but rather Twitter's own doing, forcing users to do a manual search instead.