Originally the package consisted of only the minor utilities, but later the GNU Assembler (GAS) and GNU Linker (GLD) were included in releases, since their functionality is so closely related.
Most of binutil is a rather simple program; most of the complexity is encapsulated in the BFD and libopcodes libraries that they share.
External link
GNU binutils page (http://www.gnu.org/directory/GNU/binutils.html)
The binutils have been ported to most major Unix variants as well as Wintel systems, and their main reason for existence is to give the GNU system (and GNU/Linux) the facility to compile and link programs.
The various NEWS files (binutils, gas, and ld) have details of what has changed in this release.