The best information I've found so far is from the RPi Camera Module page on elinux.org. They have some specs for both units side by side:
Sensor type: OmniVision OV5647 Color CMOS QSXGA (5-megapixel)
Sensor size: 3.67 x 2.74 mm (1/4" format)
Pixel Count: 2592 x 1944
Pixel Size: 1.4 x 1.4 um
Lens: f=3.6 mm, f/2.9
Angle of View: 54 x 41 degrees
Field of View: 2.0 x 1.33 m at 2 m
Full-frame SLR lens equivalent: 35 mm
Fixed Focus: 1 m to infinity
Video: 1080p at 30 fps with codec H.264 (AVC)
Up to 90 fps Video at VGA
Board size: 25 x 24 mm (not including flex cable)
Sensor type: Sony IMX219PQ[5] Color CMOS 8-megapixel
Sensor size: 3.674 x 2.760 mm (1/4" format)
Pixel Count: 3280 (H) x 2464 (V) (active pixels)
Pixel Size: 1.12 x 1.12 um
Lens: f=3.04 mm, f/2.0
Angle of View: 62.2 x 48.8 degrees
Full-frame SLR lens equivalent: 29 mm
Video: 1280x720 binned and cropped up to 60fps
1080P cropped up to 30fps
1640x1232 full FOV binned mode, up to 30fps
3280x2464 full FOV, allegedly 0.1fps to 15fps
1280x720 binned(? may be skipping) and cropped, at 60-120 fps (?)
Board size: 25 x 23.86 x 9mm
So the new module has more pixels, smaller pixels, greater angle of view, potentially greater recording resolution and frame rates (just because the sensor has the pixels doesn't mean H.264 can keep up!). It also lacks an activity LED.