Go look at its features yourself at their site.

I'm too lazy to write it all down.

I will tell you, though. They have HDV support built-in now.

I'm pretty excited about this new release too. I downloaded the demo version last week, but it's at the bottom of my list of demo software to try -- after Avid FreeDV, Edius Pro 3, Liquid Edition 6, Premiere Pro 1.5, and Sony Vegas 6. That's a lot of software to learn! I'm afraid that by the time I clear my plate of client projects and actually get comfortable enough with one of these apps to make a purchase decision, the software will rev again and my hardware will become obsolete :(

T.J.