Here's some updated information and hands-on video footage that has surfaced already from CTIA09.
The details come from the latest build of the Android “Cupcake” release (firmware build number we were playing with was 1.5/CRA79).
Cupcake Orientation animation video:
Emoticons will have a key of their own that leads to an additional emoticon keypad.

“Add to Home Screen” feature that provides a popup window when you hold your finger on the desktop. This provides many options to add new features to the home screen.
More info @
MobileCrunch.com