AngularJS version 1.3 introduces significant performance improvements, including faster DOM manipulation and digest cycles, along with new features such as $applyAsync and one-time binding. The update also includes a plethora of documentation improvements and bug fixes, as well as discontinuation of IE8 support. Additionally, it introduces better handling for forms and ARIA support, with upcoming plans for version 1.4 scheduled for Spring 2015, which will bring new routing features.