Since 9.3.1, there have been over 150 new Geoprocessing tools added to 9.4. Here is the complete list of new tools for 9.4 grouped by Toolbox and Toolset.
New tools that are new for 9.4 beta2 are marked with an asterisk and summarized here.
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3D Analyst Toolbox
3D Features
Add Z Information
Construct Sight Lines
Feature to 3D By Attribute *
Inside 3D
Intersect 3D
Intersect 3D Line With Multipatch
Is Closed 3D
Near 3D
Skyline
Skyline Barrier
Skyline Graph
Union 3D
Conversion
From File
LandXML to TIN
From Raster
Raster to Multipoint
From Terrain
Terrain to Points
Functional Surface
Add Surface Information
TIN Management
Copy TIN
Terrain Management
Append Terrain Points
Change Terrain Resolution Bounds
Delete Terrain Points
Replace Terrain Points
Terrain and TIN Surface
Locate Outliers
Polygon Volume
Surface Aspect
Surface Contour
Surface Difference
Surface Slope
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Cartography Toolbox
Annotation
Contour Annotation *
Map Server Cache Annotation Tile Features
Tiled Labels to Annotation
Data Driven Pages
Calculate Adjacent Fields
Calculate Central Meridian and Parallels
Calculate Grid Convergence Angle
Calculate UTM Zone
Grid Index Features
Strip Map Index Features
Generalization
Aggregate Points
Aggregate Polygons
Collapse Dual Lines To Centerline
Merge Divided Roads
Simplify Building
Simplify Line
Simplify Polygon
Smooth Line
Smooth Polygon
Thin Road Network
Graphic Conflicts
Propagate Displacement
Resolve Building Conflicts
Resolve Road Conflicts
Grids and Graticules
Delete Grids and Graticules
Make Grids and Graticules Layer
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Conversion Toolbox
From KML
KML To Layer *
From Raster
Raster To Video
Metadata
Export Metadata
Export Metadata Multiple
Import Metadata
Synchronize Metadata
Upgrade Metadata
Validate Metadata
Validate Metadata Multiple
XML Schema Validation
To Collada
Multipatch To Collada *
To Coverage
Import from E00 *
To Geodatabase
CAD to Geodatabase *
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Data Management Toolbox
Data Comparison
TIN Compare
Database
Register with Geodatabase
Upgrade Geodatabase
Feature Class
Calculate Default Spatial Grid Index
Features
Adjust 3D Z
Bearing Distance To Line *
Dice
Minimum Bounding Geometry
Points To Line *
Split Line at Point
Table To Ellipse *
Unsplit Line
XY To Line *
Fields
Calculate End Time *
Convert Time Field *
Convert Time Zone *
Transpose Fields *
File Geodatabase
Uncompress File Geodatabase Data
General
Delete Identical
Find Identical
Sort
Generalization
Aggregate Points
Collapse Polygon To Centerline
Eliminate Polygon Part
Graph
Make Graph
Save Graph
Package
Consolidate Layer
Consolidate Map
Package Layer
Package Map
Projections and Transformations
Convert Coordinate Notation *
Raster
Mosaic Dataset
Add Rasters To Mosaic Dataset *
Applanix DSS To Table *
Build Boundary
Build Footprints
Build Overviews
Build Seamlines
Calculate Cell Size Ranges
Color Balance Mosaic Dataset *
Compute Dirty Area *
Create Mosaic Dataset
Create Referenced Mosaic Dataset
Define Mosaic Dataset NoData *
Define Overviews
Generate Exclude Area *
ISAT To Table *
Import Mosaic Dataset Geometry *
MatchAT To Table *
Remove Rasters From Mosaic Dataset *
Synchronize Mosaic Dataset
Raster
Raster Processing
Raster To DTED
Split Raster
Raster Properties
Build Pyramids and Statistics
Versions
Change Version
Workspace
Create ArcSDE Connection File
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Editing Toolbox
Densify
Erase Point
Extend Line
Flip Line
Generalize
Snap
Trim Line
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Geocoding Toolbox
Create Composite Address Locator
Reverse Geocode
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Geostatistical Analyst Toolbox
Interpolation
Diffusion Interpolation With Barriers
Global Polynomial Interpolation
IDW
Kernel Interpolation With Barriers
Local Polynomial Interpolation
Radial Basis Functions
Sampling Network Design
Create Spatially Balanced Points
Densify Sampling Network
Simulation
Extract Values To Table
Utilities
Cross Validation
Subset Features
Working with Geostatistical Layers
Create Geostatistical Layer
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Network Analyst Toolbox
Analysis
Make Location-Allocation Layer
Network Dataset
Dissolve Network
Upgrade Network
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Server Toolbox (7)
Caching
Convert Map Server Cache Storage Format
Export Map Server Cache
Import Map Server Cache
Data Extraction
Extract Data
Extract Data Task
Extract Data and Email Task
Send Email With Zip File Attachment
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Spatial Analyst Toolbox
Extraction
Extract Multi Values to Points
Multivariate
Iso Cluster Unsupervised Classification
Overlay
Fuzzy Membership
Fuzzy Overlay
Zonal
Zonal Histogram
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Spatial Statistics Toolbox
Measuring Geographic Distributions
Median Center
Rendering
ZScore Rendering
Wow, 2 blogs posts for beta 2. Nice.