The changes are slight, but significant.
The head is higher up thus giving him a more defined neck
The 'belly button' is a uniform shape now (not stretched)
The crotch and front hip panels now have beveled bottom edges
The knee covers are more squared off (again not stretched)
The shins now taper up to the knees (huge improvement)
A lot of the small details on the shin have been removed, which gives it a more refined appearance and better matches his top half
The toes taper at their ends perfectly
All are small changes but add up to a much improved look.