Among other things, the patch will sort out a Kick Player bug, broken XP orb sound effects, and a problem that bombards you with "monster nearby" alerts when you try to sleep.
It'll also tweak a few of the new features, in line with fan feedback - Blazes will drop Glowstone Dust, for instance, of which there's currently a severe shortage, and 4J plans to guarantee the presence of a Nether Fortress in every Minecraft world. Also, baby wolves will be born tame in future, so you can wrap them in motherly hugs the second they leave the womb.
You'll have to wait till Minecraft Xbox 360 update 9 for the next round of real additions, including Spawn Eggs, Iron Golems and The End, a game-concluding dimension that's home to a bolshy dragon. Also, "we don't have a date for texture packs yet, but they are in progress."