There are a lot of additions to the latest versions of minecraft, but very little mod support. That is about to change in a big way.
When Microsoft bought Mojangg, it was unclear what was going to happen, so mod authors stopped working on projects. Mod support in the form of Forge, Cauldron, Spigot, and Bukkit were still updated, but everything else died.
All of that is about to change.
We know Minecraft: Java will be around, the mod api should be coming out soon, which will make things easier.
That being said. Mojangg has added some amazing things to the last few iterations of minecraft.
We all play on 1.7.10, the latest version is 1.12.
1.8 Update - http://minecraft.gamepedia.com/Bountiful_Update
1.9 Update - http://minecraft.gamepedia.com/Combat_Update
1.10 Update - http://minecraft.gamepedia.com/Frostburn_Update
1.11 Update - http://minecraft.gamepedia.com/Exploration_Update
1.12 Update - http://minecraft.gamepedia.com/World_of_Color_Update
Things like eleytra's, shields, skulkers, concrete, etc all make the game far more interesting. But currently we would lose a bunch of mods, not all, but quite a few.
(Not to mention changes to recipes)
I can write up what we would lose as far as mods later if you all really want to have the conversation. Honestly speaking we are not far along in this world. It might feel that way to you all, but honestly we are not.