Directly from this forum post by Quzar:

Here are the changes, straight from the new part of the readme:

alpha4 (01/18/07):
*after more of eke-eke’s changes, the sound stuff now works properly.

alpha3 (01/17/06):
*Slightly newer fame
*put in the code for eke-eke’s changes to the sound driver to fix FM sound in some games. Doesn’t work properly so it is defined out.

alpha2 (10/26/06):
*Uses DMA for texture transfer, but only partially. Should speed up texture transfer by ~2x
*Uses SQs in more places that affect speed more.

alpha1 (10/22/06):
*Faster assembly twiddling function
*Uses store queues when possible for speedups
*New FAME core from fox68k
*Multilingual Menu – automatically set by the DC’s BIOS settings
*Re-Added FPS showing option
*Modified the romlist system, so that it can now read files with spaces in their names (use an | to seperate filename from real name)
*Small speedups in many places

Download here