Layer Styles (Drop Shadow, Bevel, Glow etc.) YES!
Touch-friendly input for painting on tablets and touch enabled screens
Brushes (Import and create)
Import AND Save Adobe Photoshop files! (.PSD)
Vector layers, Text Layers, Vector Selection
Free scaling/transform selection & layers
Save TIFF, PNG, JPG, and more popular graphics file-formats
Adjustments (Color Balance, HSV, Levels)
Filters and Effects
Krita has many more features, and it's user interface is close enough that Photoshop users should feel fairly comfortable getting around and figuring out the differences here and there. This is an amazing find for those looking for a powerful alternative for Photoshop. Though it was originally designed for digital painting, it has become quite a robust piece of graphics software, and best of all, it's FREE!
Versions for Windows (32bit/64bit), Mac OSX, and Linux are available for download on the website.