Someone made a change log comparing the 5th printing to the current 7th printing, but they seem to have stopped at pg. 257 for right now.
Some highlights from the first 257 pages:
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All instances of “Man,” Kingdoms of Man," “Mannish,” etc. have been changed to “Human”
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Elven Grief was reworked
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Lots of lifepaths were rebalanced/modified slightly
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“Begging” has been renamed “Beggardry,” probably to differentiate it from the Wolf “Begging” skill
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Sorcerous spells and other magic-y things were made clearer and brought in line with the Codex (removing references to Abstractions, etc)
Generally speaking there’s a lot of redundant and distracting language that has been excised and a clear attempt has been made to make things more readable and add clarity where there was previously confusion.