Someone mentioned this at a past meeting, thought I’d pass the official announcement along:

The Audacity developers have been busy with many new features over the past year. We’re pleased to announce Audacity 1.3.2 (beta), which contains dozens of new features and capabilities. Because it is a work in progress and does not yet come with complete documentation or translations into foreign languages, it is recommended for more advanced users. For all users, Audacity 1.2.5 is a minor bug-fix update that addresses some problems with Audacity 1.2.4, but does not add any significant new features. It is complete and fully documented. You can have both Audacity 1.2.5 and 1.3.2 installed simultaneously. Also, we have just made available a set of 92 LADSPA plug-ins for Windows (for both Audacity 1.2.x and 1.3.x).

Download Audacity now:
http://audacity.sourceforge.net/

See the 1.2.5 Release Notes for a complete list of changes and known problems in Audacity 1.2.5: http://audacity.sourceforge.net/download/release-notes

See New Features in 1.3 for information about the new beta version: http://audacity.sourceforge.net/download/features-1.3-a