• Ad extension services. We heard your feedback about Feed Services being overly complex for many cases. To help simplify ad extension management, we've added new ExtensionSetting services. Existing Feed Services are still supported so you can continue using them. Should you decide to migrate to the new services, we've prepared a migration guide.
• Account labels. We've expanded support for labels to MCC manager accounts. Now you can tag your accounts with text labels programmatically.
• In-place URL upgrade for ads. The AdGroupAdService now supports upgradeUrl method which simplifies the Upgraded URLs migration.
• Updates to reporting. Two new reports have been added: UserAdDistance performance and Label. Reporting now supports skipColumnHeader HTTP header which removes column headers from the produced report. We've also added several new columns across reports, see the release notes for the full list.
• Shared sets. These are now available to all AdWords API users. Check out this feature if you often need to attach large sets of negative keywords or placements to many campaigns.
• Support for application deep links. You can now create ads linking to specific activities in your application using AppUrlList.
• Additional controls on Local Inventory Ads. You can now enable local inventory as well as set product channel / channel exclusivity.
• Cross-account as well as system-defined conversion trackers are now easy to identify. Look at the conversionTypeOwnerCustomerId in ConversionTracker. Accounts using cross-account conversion tracking can be identified using the effectiveConversionTrackingId.
• Account-level remarketing tags can now be retrieved using CustomerService RemarketingSettings.
• The new TargetOutrankShare bidding strategy is now supported.

If you're still using v201406 of the AdWords API, please note that it's being sunset on April 6th, 2015. We encourage you to skip v201409 and migrate straight to v201502. If you're using v201409, be aware it's now marked deprecated and will be sunset on July 14th, 2015.

As with every new version of the AdWords API, we encourage you to carefully review all changes in the release notes and the v201502 migration guide. The updated client libraries and code examples will be published shortly. With this release, we've also updated the Required Minimum Functionality document to include some of the newly added features. If you have any questions or need help with migration, please post on the forum or the Ads Developers Plus Page.