According to the Windows Phone Blog, Mango will make WP7 handle our music and videos better, with tons of new features to improve the media viewing experience. Here is a list of what we can expect for Windows Phone 7 Mango:
A Smart DJ feature, refinements and tweaks to make it easier to find and enjoy content, the ability to browse and download podcasts straight from the phone itself - no need for Zune, improved History and New, new lockscreen options, better playback controls , more playback info, the ability to create new playlists on the phone itself - and lots more.
WP7 Mango sure is shaping up to be an update that WP7 users are right for being impatient about - it is definitely taking the operating system to a whole new level. Head over to the official Windows Phone Blog for more detailed descriptions and information on the new Music + Video Hub.
source: Ubergizmo