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Come on, there's not going to be a new major release without a beta test cycle! They run several months, so I feel comfortable saying that in the best possible case OO4 happens in the second half of this year.

Why should they hold back what are probably easy bug fixes from paying customers in favor of working on something with no promised release date?

My first reaction upon seeing the announcement was that someone would promptly complain that it didn't provide iCloud support, cloning, zooming, etc. but I couldn't find anyone to take the other side of the bet :-)