New Features of QTP 9.5 which are not in QTP 9.2
Maintenance Run Mode :
Repair the object properties in the Repository if the properties are changed in the Application in new build.
Process Guidance :
This is little more than more accessible help files. Maybe this is good for when you are first learning to record a Test, but it doesn’t seem to add much utility.
Test Flow Pane
Display the list of Actions in the Test and the sequence they are executed
Available Keywords Pane
All Test Objects and functions in are displayed.Rapid test development with drag & drop of objects, functions into expert view. And Object Repository now also supports drag & drop
Resources Pane :
All resources associated with the test. You can see all your library file in this pane
Missing Resources Pane
            Display the List of resources associated to the test but not available in the location during runtime
Relative Path Helper
Improved Bitmap CHECKPOINT
            Bitmpap Checkpoint has Tollerence values for pixels and color
Web Extensibility :
1.Anyone can add support for new web controls
2.Rapid development in JavaScript
3.Solid infrastructure supplied by the Web Add-in
4.Extensibility objects are first class citizens
 5.Built-in toolkit: ASPAjax
Tabbed browsing :
Tabs identified as separate browsers.Same test compatible with tabbed and non tabbed browsers.
New Technologies :
1.PowerBuilder
2. Delphi
3. oracle ? Forms 10 ?Apps 12
4.StingRay Objective Grid 10, 114. PeopleSoft 9.0•
5.New Terminal Emulator versions
6.NET 3.5 (beta)
New environments  :
1.Windows Vista 64 bit
2. Eclipse 3.2, 3.3
3.Record on SWT
4. Firefox 3.0
5.Netscape 9