This list of features is copy-pasted from Links' homepage

• Easy and quick user control via pull-down menu in both text and graphics mode, in 25 languages.
• HTML 4.0 support (without CSS)
• HTTP 1.1 support
• Tables, frames in both graphics and text mode, builtin image display in graphics mode
• Builtin image display for GIF, JPEG, PNG, XBM, TIFF in graphics mode
• Anti-advertisement animation filter in animated GIFs?
• Javascript support with full user control over script run
• Bookmarks
• Background file downloads
• Automatic reconnection in case of TCP connection breakdown
• Keepalive connections
• Background (asynchronous) DNS lookup
• 48-bit high-quality image gamma correction, resampling and * Floyd-Steinberg dithering in all color depths.
• Font resampling (antialiasing) for virtually unlimited pitch range, LCD optimization of fonts and images.
• Builtin fonts in the executable without reliance on any fonts installed in the system
• User-adjustable menu, HTML font size and image zoom factor.
• User-adjustable display gammas (red, green, blue), viewing-condition correction gamma and precise calibration of both monitor and Links on a calibration pattern

These are additional features coming from LinksHacked:

• Tabbed browsing
• HTTP Auth
• HTTP Proxy Auth
• Blocking of selected images
• Cookies saving
• New options system
• Full-text selection
• Forward history
• Extended and configurable 'toolbar'
• Configurable 'mini-status'
• Some small but useful improvements
• Modularized font subsystem
• Dialogs shadows and borders