What's Zafaria? It's a whole new slice of the game world comprised of six unique areas that can be accessed with a Wizard101 membership or via individual purchases. The game's level cap has also been raised (to 70), and the requisite new gear is present as well. New spells can also be found in the update, as can new henchmen and improved character stats.
There's a bunch more for you to read about (including info on a new music player!), so head to the official Wizard101 website for all the details.