First of all, the game was only compatible with a small number of devices, and needed an update before it worked properly on the Galaxy Nexus and Ice Cream Sandwich. This new update may not add a lot of new compatibility. In fact one of the devices Medion Lifetab, may not even be something many of you have ever heard of before. But, the bigger news is that the game now supports the Asus Transformer Prime.
In addition, the game has added better compatibility for a number of gamepads including the built-in pad on the Xperia Play, as well as add-on accessory pads and the Gamestop Wireless Game Controller. The game also now supports Immersion Haptic Vibration Feedback, which should make all of the explosion and car crashes in the game feel better.
Lastly, GTA III now has a new option to change the visual settings to get better performance, and an option to install the game to SD, which is nice for those with older phones and limited internal storage.
If you want to grab GTA III, it's available for $4.99 in the Android Market.