The old Privacy Policy was based on a free generator service that has long passed out of memory. I initially used it some 10 or more years ago and only made minor changes since. The technology and law of the web has changed a lot in the ensuing years, leading the policy to become out of date. The new policy better reflects the current abilities of technology to gather data and how that data is used.
The update to the Participation Guidelines is minor in comparison. The recently added guideline regarding the delay in forum game posting periods has been revised to better reflect discussion regarding this guideline among the site staff. The bold part here is what has changed; previously this said "since your post":
Once you have posted in a forum game topic, do not post to that topic again until either two other people have posted to the same topic or a period of at least 48 hours has passed since the final post was created.
There was also a minor change in the terms used in the first guideline on the list, just to clarify that it includes all content submissions or display and not only discussions.