Deep color consists of a billion or more colors. With 30-bit color, each of the R, G, and B colors get 10 bits each. This can be compared to 24-bit True Color which has 8 bits for each R, G, and B Colors offering 256 shades of red, green, and blue, for a total of 16,777,216 color variations.
The change is a welcomed improvement for colorists, graphic designers, and photographers in particular. Apple has apparently confirmed that the new 5K and 4K iMac, along with the 2015 5K iMac, support the new driver. Additionally, users are reporting that third party monitors including the Dell U2711 and Eizo CS230 monitor are running at 30-bit as well.
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Read More [Mac & I] [via Ray]