If you have not bought the game in the past couple of years, reports from the gaming community say this might be the year you need to get the new game. Improvements in the transitions, the addition of QB vision cone and player locomotion will be interesting. And yes, they have updated Michigan Stadium to include the new press box/suite structure.
The biggest issue for me at this point is the inclusion of Denver Bronco kick-returner Tim Tebow on the cover. Don't worry, there are plenty of custom covers available to replace the future NFL bust.
Custom Cover genius BIGDMO has a great collection, including Tate Forcier in all game consoles.
Denard Robinson is also available in a couple of different versions, one from cazihead and another from Spartyon6686.
And for those of you looking for an "old school" touch, veteran cover maker easportsfan1 made this Tom Brady version for PS3.
and finally, I created a Brandon Graham version this morning.
You can download my full version here.