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Beta 3
First off we'd like to give credits to +espen olsen  and +Leonard Leijenhorst  for the new boot animation. In the end we combined the two we submitted for votes earlier this week.
On that note we'd like to thank everyone that submitted new animations for consideration. Thank you for your time and creativity.
New boot animation - ParanoidAndroid 4+ Official bootanimation

With this release we've introduced a new UI element that may be used for some of those preferences that you set once and forget about. Instead of adding more layers under settings, we've created a new global "on-the-spot" preference dialog that we can plug into to manage such options. The first preference to take advantage of this feature is the quick setting pull down we added to the status bar last week.

As we're on the topic of quick settings, quick settings 3.0 introduces dual tiles. Tiles which have dual modes will contain an indicative icon in the top right corner, which will swap modes with a simple tap. You can also decide which side shows as the default view for the tile.

Immersive mode can now toggle between full immersive, navigation bar only and status bar only.
The brightness tile (via long press) can now turn auto-brightness on/off.

A note on the Google dialer, as we noted in the previous release, using the Google dialer conflicts with some custom implementations. As such, we've added a dialer check which will remove those features that conflict. This means you are free to install without issue. The AOSP dialer has also been updated to reflect the look of the Google dialer.
Features that will be removed
- network tiles
- increasing ringtone

Oh yeah...galaxy nexus freezes should be gone

Full change logs @

Oh, we're also proud to announce that we've got 200k +1 on our Google+ official page.