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We’ve mentioned this in a couple of posts earlier today, but this is directly from Shigeru Miyamoto as stated during the Treehouse Live segment:

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– Tap and drag items around
– No limits on the amount of objects that can appear
– Can fill every grid tile with enemies, items, and obstacles
– Editor has little tricks
– Ex: pick up and shake a green Koopa Troopa and it will turn red
– Swap between the original and New Super Mario Bros. graphical styles
– Nothing changes but the visuals
– Can quickly switch between playing and editing
– Editor shows the last few second of Mario movement as ghosting
– Enemies will maintain their totem pole stature if you stack enemies
– Can add wings to the enemies
– This makes them hop
– Can place any of the enemies inside of pipes, which creates an auto-spawning pipe
– Enemies and objects also bounce off of the springboards
– The title screen looks like Mario Paint
– Can even tap on the “O” in Mario to make the mustachioed man pop out
– Dog undo icon also makes an appearance
– Mushrooms are the only power-up in the demo
– The block sometimes spits out a skinny mushroom, which would make the overalled hero tall, but skinny.
– Can create single standalone levels — no pipe travel
– Unclear how sharing will work

Source

More: details roundup, Mario Maker