The GDR2 update does appear to contain some non-public API changes that can be used by manufacturers to enable additional functionality (e.g. Nokia's Glance Screen and Colour Profiles), but these are not found in the generic public Windows Phone SDK.
According to the Microsoft download page the SDK update adds four new emulator images (development targets):
The Windows Phone SDK 8.0 Update for Windows Phone 8.0.10322 adds the following to an existing installation of Windows Phone SDK 8.0:
- New Windows Phone Emulator 8.0 (10322) WVGA
- New Windows Phone Emulator 8.0 (10322) WVGA 512 MB
- New Windows Phone Emulator 8.0 (10322) WXGA
- New Windows Phone Emulator 8.0 (10322) 720p
These images reflect the four specification configurations currently used by Windows Phone 8. Three screen resolution (WVGA, WXGA, and 720p) for 1GB (high spec) devices, and one screen resolution (WVGA) for 512MB (low spec) devices.
The update, which is 920.5MB in size, can be downloaded from the Microsoft Download Center. Do note that the Windows Phone SDK 8.0 and Visual Studio 2012 Update 2 must be installed before you can install Windows Phone SDK 8.0 Update for Windows Phone 8.0.10322.