The <del> and <ins> elements are interesting. I fail to see how they are different from the <strike> and <u> elements that existed in HTML 4. To me the result looks like same[1], perhaps it more for semantic reasons?
They are indeed different for semantic reasons. The <del> and <ins> elements are used to represent edits to the document [1] while <u> is used to "label" names or misspelt text. [2] The <strike> element doesn't exist anymore but was used for styling text [3], much like CSS.
[1] - http://jsfiddle.net/9h6s7zz3/