Reflection/refraction sets (include /exclude lists). V-Ray Clipper (make easy render time sections or booleans of objects or groups of objects). New 3.4 Render masks (textures, objects, object ids). Embree 2.3 (also dynamic geometry like displacement, hair, mb, proxies). Probabilistic light sampling: a lot faster rendering with huge number of area lights. Lot faster hair, grass & fur rendering & a lot faster instance and proxy rendering. v3.4 clip max ray intensity setting (can speed up rendering a lot). 
Here are most of the remaining changes and new features:
Min shading rate (one simple global shading quality slider). Multi faceted GTR BRDF ( GGX pro with tail control). Fast IPR window (interactive preview render) based on V-Ray RT v3.4 core, GPU & CPU options. Light Cache is now rendered distributed via DR. RT Light Cache support & new pre-multiplied mode in Light Cache. V-Ray RT CPU, Cuda, OpenCL(only win) production rendering in picture viewer and editor. New Global Defaults for fully automatic render settings, – just turn on GI and render. Automatic sampling of lights and materials – removing the need to set subdivisions manually. 3.4 denoiser via VFB & via V-Ray denoise stand-alone tool (for animation), non destructive, can cut render time by half and more, with GPU acceleration. Dynamic Bucket splitting, unified sampler options (only bucket or progressive to choose). New variance based adaptive image sampler (VBAS), in bucket and progressive mode, improved sub-pixel filtering. Time or sampling level based for stills and animation. 
New progressive sampler rendering: see your render within seconds instead of waiting for buckets.A lot faster path tracing GI, all parts of V-Ray had been greatly optimized using state of the art ray tracing technology.
Faster overall ray tracing and render performance And this makes all the difference for every artist, no matter of his current skill level. While this transition may not seem so important to all of you, let me assure you – this makes it possible for the Cinema 4D community to work daily with state of the art features. (The only higher version currently is the beta for 3DS Max) This means C4D users finally got their hands on the most recent core version of the popular render engine. Yes, those tiny numbers! VRayforC4D will no longer have different numbering than all the other ones (3DS Max, Maya and etc.). Article by Yunal Zobu Stefan Laub and team #vrayforc4d official released V-Ray 3.4īefore diving into the lists of specs, here is something I’m very excited about – version numbering.
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