Check the CHANGELOG for details about what's changed.
The main change in this version is that I've replaced DropbearSSH with OpenSSH. This should solve the many problems people were having with SSH connections timing out. If you have an existing DropbearSSH installation, this version will detect that and let you uninstall and reinstall with OpenSSH.
Another big change is that I now just use lockdownd patching for activation on all firmware versions (1.0, 1.0.1, 1.0.2, and 1.1.1). This makes your phone factory activated and you can freely swap SIM cards without having to reactivate. It also makes it so that activating does not re-jail your phone (a big request).
Other than that, ringtone customization still doesn't work yet. I've read all of the documentation about how to hack install ringtones, but it seems like a complicated process at this point. Hopefully someone will figure out an easier way.