Update as of 5/09/2012
* Implemented configuration option that enables the page types hierarchy usage during the page generation
* Removed theme/view config files caching in favour of the view files map to be implemented in the future
* Fixed some issues:
  * Fixed persistent elements highlighting for the Visual Design Editor
  * Fixed instruction text absence for the "Cash On Delivery Payment" payment method
  * Fixed suggestion text for the 'urlEscape' method in the legacy test
  * Fixed "Manage Currency Symbols" system configuration page
  * Fixed currency validation for the PayPal Website Payments Standard
  * Fixed Web API for product to category assignment by SKU containing digits only
* Implemented new tests
Update as of 5/23/2012
* Published performance tests (`dev/tests/performance`)
* Implemented support of ImageMagick library for processing images
* Distinguished "Page Fragments" and "Pages" in layout handles declaration
* Reduced performance drop caused by introducing containers
* Implemented Magento_Data_Structure library which is used to handle structure of layout elements
* Fixed some issues:
  * Fixed error on saving newsletter template
  * Fixed some checkout issues:
    * order is not placed if 3D Secure is used
    * transaction is not created if PayPal Standard is used
    * "Purchase Order Number" field is not displayed
    * failed checkout on concurrent user requests
  * Fixed incorrect shipment creation: shipping and tracking information was not saved
  * Fixed broken category page when "Use Flat Catalog Product" is enabled
  * Fixed incorrect applying of discount to a sub-product, if more two rules are being applied
  * Fixed broken "Edit" product link in Wishlist and Shopping Cart
  * Fixed broken installation when "pub/media" is not writable
  * Fixed resetting Design Theme configuration option when User-Agent Exception is added
  * Fixed error while running unit tests, when Zend Framework is installed with PEAR
  * Fixed incorrect processing of "before" and "after" layout instructions in case, when the instruction refers to a node, which is not processed yet
  * Fixed broken import/export functionality
  * Fixed broken Web Services pages in Admin Panel
  * Fixed broken creation of URL rewrite
  * Fixed error in Weee module caused broken view pages of configurable products with recurring profile or downloadable/bundle product
  * Fixed error on submitting XML Connect application
  * Fixed broken design when database is used as media storage
* Other small changes
Update as of 5/31/2012
* Implemented backend authentication independent of `Mage_Adminhtml` module. Authentication can be disabled
  * Authentication logic is moved to `Mage_Backend` module and being performed in controller instead of observer
  * `Mage_Adminhtml_Controller_Action` is changed to `Mage_Backend_Controller_ActionAbstract`, `Mage_Admin_Model_Session` is changed to `Mage_Backend_Model_Auth_Session`, `Mage_User_Model_Role` and `Mage_User_Model_Roles` classes are unified into one `Mage_User_Model_Role` class
  * Introduced `Mage_User` module for users and roles management
* Introduced support of minimized CSS and JS files: in production mode minimized file is used, if exists
* Implemented resize, rotate, crop and watermark functionality for ImageMagick adapter
* Fixed some issues:
  * Fixed absence of product without image, if ImageMagick is used
  * Fixed broken Downloadable product creation page, when developer mode is enabled
  * Fixed random failures of `Integrity_LayoutTest::testHandlesHierarchy` test
  * Fixed backup creation: media directory was excluded from the backup file when it should be included and vice-versa
  * Fixed broken product configuration page in Shopping Cart
  * Fixed incorrect work of "After number of attempts to login" functionality for CAPTCHA: captcha was not displayed after specified number of incorrect attempts
  * Fixed creation of User Role: resource access was set to 'Custom', when 'All' is selected
  * Fixed exception "Unable to locate skin file" at the end of installation
  * Fixed broken "Use Store Credit" functionality on checkout
  * Fixed lost MySQL connection, if it's not used for long time
  * Fixed ability to separate CDN server setup for static and media content
  * Other small fixes
Update as of 6/7/2012
* Fixed various crashes of visual design editor
* Fixed some layouts that caused visual design editor toolbar disappearing, also fixed some confusing page type labels
* Eliminated "after commit callback" workaround from integration tests by implementing "transparent transactions" capability in integration testing framework
* Refactored admin authentication/authorization in RSS module. Removed program termination and covered the controllers with tests
* Removed HTML-report feature of copy-paste detector which never worked anyway (`dev/tests/static/framework/Inspection/CopyPasteDetector/html_report.xslt` and all related code)
* Github requests:
** [#19](https://github.com/magento/magento2/pull/19) Implemented "soft" dependency between modules and performed several improvements in the related code, covered with tests
Update as of 6/20/2012
* Implemented locale translation inheritance
* Implemented new format for exporting customer data
* Added initial Javascript code for globalization and localization
* Added initial Javascript unit tests
* Implemented file signature for urls of static files - better CDN support
* Implemented optional tracking of changes in view files fallback - cached by default, tracked in developer mode
* Introduced `@magentoDbIsolation` annotation in integration tests - isolates DB modifications made by tests
* Started refactoring of Visual Design Editor Javascript architecture
* Github requests:
  * [#25](https://github.com/magento/magento2/issues/25) Removed unused `Mage_Core_Block_Abstract::getHelper()` method
* Fixed:
  * "$_FILES array is empty" messages in exception log upon installation
  * Long attribute table aliases, that were producing errors at DB with lower identifier limitation than MySQL
  * Watermark opacity function did not work with ImageMagick
  * `Magento_Test_TestCase_ControllerAbstract::assertRedirect` was used in a wrong way
  * Inability to reorder a downloadable product
  * ACL tables aliases interference with other table aliases
* Several tests are made incomplete temporary, appropriate bugs to be fixed in the nearest future