Here are a few notes that I have noticed... .this is my first lollipop, so if I am missing something please correct me.
(based on AOSP "pure" android 5.0.x)
1- no manual camera controls, no RAW features. (there is a manual camera app that will check the api to see if it is installed... it said No intstalled on this device
2 - No flashlight from task bar
3- Can't "pin apps"
4 - Multi User mode including Guests
5- No direct ChromeCast screen mirroring through the pull down settings
6 - Smart Lock (thought it wasn't there, but its burried, you have to turn on via Trust Agents, under securtiy)
7 - Tap to wake... supposed to be standard in 5.0
Thats all I have found so far. I must say most are overall trivial. I'm sure you have you rfavorite you with were in there (that likely no one else cares about... I'm looking at you tap to wake..) for me the camera raw/manual is annoyingly missing. All in all its a nice update.... just thought I would point these lollipop specific features that are missing out to you.