The long awaited Joomla! 1.5 Beta was released on 12th Oct, a few days ago. I've downloaded it and given it a try. I must say the user interface for this release is a great improvement over the 1.0.x releases - slick design, well thought and fast loading. Notice that the rounded corners for the admin interface are not images, they are constructed using CSS!
From a coder's point of view, I think the code is much cleaner, given that much of the internals has been refactored to use the MVC pattern. And patTemplate is very much used. I think it would be good for 3rd party developers to start using patTemplate for their components and adhere to the MVC pattern.
An overview of the features of Joomla! 1.5 can be found
here. In short, I think Johan Janssens and team have outdone themselves again! Go
download a copy and play with it.