It's finally finished (sort of), there is now scaling in, and performance should be a bit better for most games (GTE code should now match PCSX4ALL's performance or surpass it). Also there are many compatibility fixes, .cbin and multidisk eboot support (I hope, not tested too much), and new speed hack options that can give you more speed, but break games. There is a new Wiz build too.
One note for those who say this is "just an early alpha version": well I've been working on this thing for more then a year now (there have been 9 pandora versions before first Caanoo release) and can say there is not much left to be done to speed the emulation core up further. One big thing that would help is making use of pollux 3D capabilities to do PSX GPU rendering, but I have no plans to work on that, sorry. Other than that, there are some small things but that would be a lot of work with very little benefit, probably not even noticeable. So what I'm trying to say is that future versions are unlikely to be faster, but will probably fix compatibility bugs.