Todd Kopriva runs down some info on updates to Camera Raw in his post Camera Raw book excerpts from Peachpit Press. He also links to relevant section in online Help.
There's even more on Camera Raw on Adobe TV, for example Julieanne Kost and this on Local Adjustments:
See also Saving Time with Local Adjustment Presets by Kelly Castro from the Lightroom team, and a video tutorial by Martin Evening, Perspective correction for Camera Raw images.
Note: Another nice excerpt from Peachpit is The Digital Darkroom in Adobe Photoshop CS4 by Conrad Chavez and David Blatner, which discusses blending modes, dodging and burning by hand, using history to make adjustments, and soft-proofing an image for print.