As promised, here's the deal so far...
- Added XInput code for XBox 360 Controller.
- Added FX loading from file (in gamedir/shaders, built-in shaders are available in source code folder).
- Removed messy "Apply" stuff from menu code.
- Added ability to show/hide/enable/disable menu options.
- Changed video mode selection from instant to requiring an "Apply".
- Added loaders for several "enhanced" particle types ("enhanced" system not implemented yet).
- Further updates of particle system, replaced types with individual particle parameters.
- Made new Multiplayer game config menu more tolerant of run-time game changes.
- Removed dependency on ID1 naming convention from viewmodel muzzleflash frame interpolation hack.
- Removed frame interpolation from bolt models.
- Fixed crash on changelevel where you give yourself the lightning gun before changing level.
- Fixed r_lightmap cvar.
- Removed efrags system (replaced with similar - but more efficient - system).
- Ported trace system from light.exe source code.
- Fixed rotating va buffers disappeared somewhere around 1.2
- Added proper bilinear resampling for texture upsizing.
- Made Heap_TempAlloc more robust against recursive calls.
- Worked around occasional weird crash in Draw_CachePic.
- Removed dedicated server functionality.
- Fixed memory leak in S_LocalSound.
- Fixed shader loading from resources (badly broken).
- Moved project to Visual C++ 2008 Express.
Otherwise a lot of good and useful updates, but mostly behind the scenes. I'm particularly happy with what I've done with particles, even though an actual "enhanced" system isn't in there yet (I had one but I removed it; some dregs - like textures in the exe as embedded resources - remain). Also, the most recent round of bugfixes have resulted in a much more stable program.
No news of a release date yet, but work continues.