My recent update of my eportfolio site, Folioz, went without a hitch and the Mahara update brings many new improvements. The ability to choose/upload images from the editor is long overdue and has always been a glaring limitation of the TinyMCE editor.
A new annotation block allows for feedback in any context.
Only time will tell what the integration of web services, similar to Moodle, will bring to the Mahoodle integration.
Then there is also the 300+ bugs fixed!