The following new features are now available in Google spreadsheets:
Vertical merge: The merge functionality has been extended to let you create vertical merges across several rows of data.
Paste options: Four new paste special options have been added including: paste all cell contents except borders, formulas only, data validation only, or conditional formatting only.
Import/Export support: You can now convert most pivot tables between Microsoft Excel files and Google spreadsheets.
Vertical merge: Select the set of cells you’d like to merge, then click on the down arrow next to the merge icon, and select ‘Merge vertically’.
Paste options: These new options are in a list under “Paste Special” in the ‘Edit’ menu of Google spreadsheets.
Import/Export support: To import a pivot table you created in Microsoft Excel, click the ‘File’ menu in Google spreadsheets, and select ‘import’, then select the file from the import options, and click the ‘import’ button. If you’ve created a pivot table in Google spreadsheets, go to ‘File’ in the spreadsheet, then click ‘Download As’, and choose ‘Excel’.
For more information: