It has some great changes – better application finder, tiling support and better window layout for Thunar. Give it a try. You will love it because it sits pretty, lets you do what you want to do by staying out of the limelight, lets you customize anything and everything, and does not hog your resources. Can’t say that about many of them anymore!
Xubuntu 12.04 LTS and Xfce 4.10 releases have missed each other by a whisker. But you can easily get the the newer Xfce using this ppa. Beware that Xfce 4.10 bugs will not be considered in the Xubuntu 12.04 support scope. But knowing Xfce, I don’t think it will be a big problem.