Windows Phone 7 is not what we hoped it would be—yet. But the more we hear about its first major update, the better. And according to Microsoft CEO Steve Ballmer, Mango's going to be all kinds of juicy.

In the video above, Ballmer explicitly says that Mango will come with 500+ new features. And while he didn't get into what, exactly, those features would be, the sheer volume points to the kind of large-scale refresh WP7 bandwagoneers have been expectantly awaiting. [Nanopho.jp via WM Power User]