So far, the only multitouch feature seems to be the pinch gesture. The rest of it is single finger - and except for the nifty little animations and physics - functions the exactly same way it does on, say, an SE M600.
Hopefully they'll add more in future updates (cut, copy, paste etc. would be nice, as well as a global play, pause, FF and reverse), because it'd be a terrible thing to waste that nice multitouch screen on just one, moderately functional gesture.
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