On the right you see a screen grab of the LW 9.2 camera panel, set to perspective camera. The section that controls AA is outlined in red. Some of these controls are duplicated in the render globals settings. There are fewer controls there, but the ones that are have the same function as they do here, so I won't treat them seperately. First, a description of each function, then we'll go on and see how they can be useful to us.

Antialiasing:
This setting replaces the older drop down menu for PLD and classic AA methods. The number indicated here is the base-level AA that your scene will receive. AA set to 1 will give you PLD-1 AA, which means a little bit of AA for free, but not much. The new AA system is completely different than the old AA system, and therefore one can achieve much better results with much lower AA effort. The new AA setting is not directly comparable with the old amount of passes. Still, if you'd like to make a rough comparison in terms of passes versus samples it'd be as follows:

The new system doesn't use passes at all (whee!), and does all the AA in a single swoop, which is often faster as it saves preprocessing and transforming time. Using a base-AA level of 33 is often completely unnecessary, where one used to use Extreme AA in the old system. Also, the new AA uses stochastic sampling, instead of the discreet layers the old AA did, which delivers noise rather than banding, which is often preferred (see img.1). If you want passes anyway for a particular purpose, you can force the system into doing separate passes by setting the motion blur to classic, and setting the amount of passes equal to the AA you'd like, setting the Antialiasing level to 1.

Reconstruction Filter:
This setting controls how the individual samples are added together to form the final pixel. This can have some influence on the look of the final image. Usually Box is the standard choice, but classic is a fine general purpose filter as well. Usually I choose Classic when the sampling pattern is also set to Classic and adaptive sampling is off, this results in a very nice Cone filter. If AS is used, then the sampling pattern must be something else than classic, and I usually choose Box.
Mitchell is a favorite among many, for the slightly edgy-er look, and Lanczos is very sharp, mostly suited for cel-shading. Gaussian is a soft filter. Each filter has a soft and sharp setting, which modifies the filter a bit to your choosing. There are other tutorials that go into great detail about this filter.

Choosing the right filter means having the right look for your image, but also might mean you can get away with less AA for your particular scene. Avoid using Classic when the Adaptive sampling system is on. They don't work well together. Use Box instead for almost the same look.

Sampling Pattern:
The sampling pattern determines how the AA samples for each pixel are distributed.

Soft Filter:
A post-processing filter that will soften the end-result. I've never used it. It seems to be analogous but stronger than using a (soft) variety of reconstruction filter.

Adaptive Sampling:
Turns on the AS system, regulated by the Threshold setting. The AS system is very different from the old AS system in 9.0 and before. What this system does is, after the image has been rendered using the base-AA, is analyse it and mark all pixels that have a contrast level with neighboring pixels beyond the Threshold setting, and refines these subsequently. It then analyses the image again, and keeps adding samples until the maximum number of samples is reached, or until there are no more pixels over the threshold. Read more about AS in the next section.

Threshold:
The contrast threshold for the AS system

Oversampling:
This is an interesting one. It was added after many user requests to have the AA behave more like the old AA, which had this nice softish and forgiving quality to it. The new AA tended to be very harsh and needed much more samples to get nice smooth edges. In comes oversampling. In a way you can say that oversampling makes the sampling of AA extend beyond the boundary of the pixel it's supposed to sample by the amount of pixels set here. The old AA system had an oversampling of roughly equivalent from 0.25 to 0.5 hardwired, but now you can set this yourself. Setting a certain amount of oversampling will slightly soften the edges of your sampled pixels, which makes it more forgiving, making less samples necessary. Setting this too high causes blurring and artefacting. I usually stick to something between 0.05 and 0.2.