The HTC Mazaa doesn't offer anything new in terms of hardware (no front facing camera, massive display etc) but developers who managed to win the phone at the competition have reported that the phone is much faster than other WP7 phones. The speed improvements are probably due to optimizations that Microsoft has been working on for Mango, which is great news for WP7 users. Still no updates on when the Mango update will be released, but the availability of Mango developer devices can only mean it shouldn't be too long now.
source: Ubergizmo