Google launched a new edition of its toolbar for Internet Explorer, but it's only for IE8 and IE9. Google Toolbar 7 focuses on search: there's hold up for Google Instant, the search box is a lot better and all the other features are obtainable in the "More" drop-down.
There's a funny help center article titled "Where did my buttons go?" which answers the most understandable question after installing Google Toolbar 7.
"You may have noticed that some or all of your Toolbar buttons have left with the latest update of Toolbar. The newest account of Toolbar helps you focus on the features you use the most, by removing your less often used buttons from view. If you've recently used a specific Tool on your Toolbar, its button will be pinned to the Toolbar so that you have easy access to it. Otherwise, all buttons are detached by default. Don't fret -- you can easily add your favorite features back to the Toolbar. Click More next to the search box and select the tool that you want to add. It'll routinely appear back on the Toolbar."
So Google Toolbar skin are less discoverable, users lost some of their preferences, but the toolbar is less cluttered.
Google Instant addition is not enabled by default, but you can open the options dialog and check "Enable Instant for faster probing and browsing".
For some cause, Google also installs Google Toolbar 7.1 for Firefox, which is an old version of toolbar and doesn't include the new features. The addition can be uninstalled from Control Panel, not from Firefox.