Under the bonnet, the big change from the original S7 is all powerful 4th gen Intel Haswell Core i5 and i7 processors and WiDi for streaming content to a Smart TV.
The new 13.3" Aspire S7-392 features a Full HD LCD backlit IPS 10-point touchscreen (1920 x 1080) for viewing angles up to 170 degrees, 8GB Memory, 128GB SSD Storage. It runs Windows 8.
Its 13.3" touch screen is protected by a Gorilla Glass 2 surface, can be opened flat to full 180 degrees, and the image orientation reversed.
Size wise, the new S7 measures 12.9 mm thin and weighing 1.3 kg.
The Core i5 model costs $1899, while Acer asking price for Core i7 S7 is $2399.
Acer have also upped battery life - "up to" 7 hours, its says, which is a 33% increase and has even faster boot up time than original S7.
It also has Intel WiDi which lets the Ultrabook stream content in Full HD to a TV
Acer other upgrades from the original S7, include a backlit keyboard, refined Acer TwinAir cooling with less fan noise - 20% less to be precise.
"Building on the response and feedback we received from customers for the first Aspire S7, we have been able to create the best touch Ultrabook in the world," said Gaba Cheng, Head of Consumer Client Products at Acer Australia,
"For the new S7, we have implemented new Acer technologies and thanks to the Intel 4th generation processors, we have been able to boost performance and battery life as well."
S7 has dual-array microphones and Acer's proprietary Purified Voice technology, which reduces noise for voice recognition and VOIP apps like Skype.