http://forums.taleworlds.net/index.php?topic=26797.0
Armagan must be on speed or crack or something! No confirmation on many changes yet, although Armagan mentioned some sort of new context menu feature. I can't play it yet since I'm at work.
Someone mentioned changes:
-you can conquer villages now,
-conquering castle will convert the nearest village
-can recruit from all friendly villages now, including conquered ones
-conquered villages will produce recruits from their original faction
Unfortunately, this is again NOT backwards compatible with old saves. I hope you are all not too attached to your .891 characters.
EDIT: Correction, Armagan said that save games are probably compatible with 0.891.