Microsoft SharePoint Foundation 2010 Service Pack 1 (SP1) provides the latest updates for SharePoint Foundation 2010. This service pack includes two main categories of fixes:
Previously unreleased fixes that were made specifically for this service pack. In addition to general product fixes, these fixes include improvements in stability, performance, and in security.
All the public updates that were released through June 2011, and all the cumulative updates that were released through April 2011.
After you install SharePoint Foundation 2010 SP1 or SharePoint Server 2010 SP1, you must also install the corresponding June 2011 Cumulative Update refresh package. For more information about these updates, click the following article numbers to view the articles in the Microsoft Knowledge Base:
2536601 Description of the SharePoint Foundation 2010 cumulative update package (SharePoint Foundation server-package): June 30, 2011
2536599 Description of the SharePoint Server 2010 cumulative update package (SharePoint server-package): June 30, 2011
For more information about how to download Microsoft support files, click the following article number to view the article in the Microsoft Knowledge Base:
119591 How to obtain Microsoft support files from online services
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For more information about a complete list of all released SP1 server packages, click the following article number to view the article in the Microsoft Knowledge Base:
2510766 List of all Microsoft SharePoint 2010 and Office server Service Pack 1 (SP1) packages
Overview of SharePoint Foundation 2010 SP1 improvements
Specifically, these are the key areas of improvement in SP1:
Improved support for Internet Explorer 9.
Recycle bin: Lets you restore a site collection or a web that was deleted.
Remote Backup Systems (RBS) and shallow copy can decrease downtime and increase efficiency by moving pointers to databases instead of moving databases.
You can see which folders are taking up valuable space with the improved Storage Management feature in site settings.
Support for Microsoft SQL Server 2012.
Downloadable list of issues that the service pack fixes