Lots of things are getting tweaked, if not completely overhauled, for Windows 8. That includes the ever-present Windows Explorer. Just like many other Microsoft apps, the file manager will be adopting the slightly more finger-friendly ribbon interface.
But don't freak out about your precious screen real estate, the next version of Explorer will actually display more files than Windows 7 could by moving the details pane to the right-hand side and tweaking the padding. The up button has also returned and a slew of new keyboard shortcuts are being introduced.