It is finally ready for Release Candidate, this mean the version is almost finished but not quite yet. So if you want to get your hands on it, it is available now. However, let me share with you some of the major highlights of this release.
BulletSim physics are now the default physics engine of opensimulator.There have been major improvements to this engine, such as better support for avatar movement and vehicles. It should be noted, you will need to make sure you modify your scripts to work with bullet as it is a completely different engine. If you find yourself needing to go back to ODE, it is still there and can be toggled back on by editing your OpenSim.ini to revert back.
Variable Regions are finally fully implemented, and this is the first release with them out of the box. They offer a much better experience than your standard Mega-Region setup, such as parcel dividing and better voice support. It should be noted though, you can only use variable regions with the BulletSim physics engine and it not compatible with the ODE engine.
There have been quite a few bug fixes to hypergrid in this release, with my favorite of names being less likely to show up as “unknown user” so it should be easier to make friends over hypergrid. This also contains a nice feature to check if an asset already exists in the grid your visiting database, this has many nice and useful properties.
There are many more, you can see them here: http://opensimulator.org/wiki/0.8_Release