I got it yesterday but have not tried it yet.
It has Unsharp Mask and Levels adjustments. The 2 tools that I used the most on PS.
Here's more information on the features, taken from Microsoft's website:
Smart erase It's easier to remove unwanted objects like strangers from your photos with Smart Erase
Blending brush eliminates photo flaws for a perfect finish.
Straighten picture easily corrects crooked shots.
Unsharp Mask offers more sharpening precision and user control than ever before.
Gaussian Blur helps create a smoother, more useful blur.
Take your photos on the run. Photos can be resized to fit on most mobile devices.
Auto Collage Print templates makes it easy to print multiple sizes and multiple photos on one page.
50 New filters including tapestry & backlit provide over 200 ways turn your photos into art.
Mini lab enables you to fix multiple photos at the same time.
Adjust Levels to change lighting & brightness in an entire picture or selected areas.
Standard pricing is US$129.