A new system is introduced with Monster Power, which is "similar" to the 'Players 8' command in Diablo II. We can choose the 'power level' of monsters and receive "scaling bonuses" in return.
The rate of experience, as well as the bonus of Magic Find and Gold Find will be capable of breaching the 300% cap. It's adjustable from character level 1 for all difficulties.
The studio also introduce the Infernal Machine which spits out "uber” versions of Diablo III's bosses for level 60 characters to take on at their leisure. They promise great rewards but that "some assembly is required." Portals will open once the Infernal Machine is built which will take us to special encounters with two augmented bosses.
The 1.0.5 patch changelog is available now on the Battle.net forums.