Among other things, it means that there'll be peace with the insurgents in the north. They're ethnic minorities who've been fighting the gov't for a long time.
It also signals the end of economic sanctions from the West, so the people might actually be able to lift themselves out of grinding poverty again. Burma used to be one of the wealthiest SE Asian countries, before the military took over.
There have also been rumors over the years of collaboration with North Korea on biological and/or chemical weapons facilities. That will be over and done with, for sure.
This isn't really headline news in the West, yet, but I think it will be when the new president is chosen. Suu Kyi said that she will choose him/her and really be the de facto
president, anyway. The constitution currently prevents her from becoming the official prez.