This big giant jump from the last version has shown itself. Here are some of the new features:

+Supa’ Slick Intro
+VMU Support
+SRAM Support
+Nester DC Romdisc Compatibility
+Tile Accelerator Renderer
+Fullscreen Bilinear Filtering
+Fullscreen Stretch Mode
+Sound Support
+Analog Stick Support
+Configurable Controls
+Configurable Frameskip
+Improved interface
+Optional FPS/CPU cycle profiling

ReGex mentioned the following: “Some of the beta testers reported that sometimes on the first time loading a game with sound, there’s a 30-40 second period where no frames show up. If you wait for a while this passes and emulation starts. The system hasn’t crashed or anything.. it’s just trying to sync the sound buffers.”

You can pick it up on the FrNes page.