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The main difference I personally noticed between2007 and2010 is that the formula functions are easier, in2010 - When I add various resultant cells to a final summation at the bottom of the page, I merely can type +A1+next (look for the cell) + next (look for the next cell, but upon pressing "+" the cursor does not return to the cell address I am in; but rather waits at the last position +1st Next.
Hope you can understand what I mean there.
Other differences:
I AGREE WITH MISS BONNIE ANSWER
There are more commands and group of commands added inside some ribbons and tabs, for example the sparkline group is added in2010 and it is not found in2007.
The version changed and the options gets more wider than before like going inside a huge box of elements related to used work.
They got easier in the new one but changed the method which needs more updated training to the latest steps or trying until you get the point.