Nokia N96 got a closeup at Engagdget Mobile. I can't say the minor design update is anything to write home about, but according to them, the fit and finish is much better than N95, making you "feel" like you actually own a premium smartphone. The major tweaks are: 2-LED flash, DVB-H Mobile TV, and 16GB Memory + MicroSD slot. The memory update is probably the most significant. Not knowing whats on the inside (processor, etc), I can't really judge if the phone is better or worse.
In the spirit of keeping things simple, I finally created a table for the N95/96 comparison for your convenience.
(Update 2/15 - N96 is on Nokia NSeries website)
Nokia N95 Variations and N96 Comparison (new features highlighted in red) (Click to Expand!)