This is not actually a new feature. It's been there for quite some time. Strange that many Power Point users don't know about this. Briefly this is what it is ...

While you are creating the slides in PowerPoint you can enter the presenter notes at the bottom. The purpose of this presenter notes is basically to give some notes to the speaker so he knows what and when to speak. But have you ever wondered how to display these 'speaker notes' while doing a presentation.

What you have to do is go to the Slide Show tab in Office 2007 ribbon and in the Monitors group check the 'Use Presenter View' check box. You need more than one monitor to use this feature, because the whole idea is, one view is displayed to the audience and a seperate view displayed to the presenter. So if there is only one monitor is connected it'll give an error message as 'This feature is for use with more than one monitor, but only one monitor was detected. To see if your computer can display on multiple monitors, click the Check button'. Here you have to click the Check button and when it opens the display settings dialog, configure the multiple monitor settings. If the monitor settings are OK it won't give any message.

Normal view projected to the audience

Special 'Presenter View' which the speaker sees. Notice the slide view with the speaker notes

Shot displaying both views on the projection screen and the laptop screen.

Try this out. This will help you to do a better presentation, because it helps you to see what is next in the slide series, and key talk points are mentioned in the Speaker Notes Pane in the Presenter View etc.