Am I the only one to feel a little bit let down by the update? I'm not trying to belittle the achievement that is Terragen 2. In fact, it took me only five minutes of playing with the trial version before I had sent my payment for the deep edition. But I gave up on it a few months ago. And though I had the secret hope that the update would address some of the reasons, it doesn't look like it will.
As far as I can understand, the list boils down to a long series of bug fixes and minor, highly technical tweaks. Now there's nothing wrong with fixing bugs and as far as technical tweaks are concerned, I'm not one of those who keep complaining about the unfriendly UI (I love the node network!) But given the time we've waited for this update, I would have expected a bit more in terms of new functionalities (even transparency doesn't seem to be in there after all).
The only thing in this list that could almost have me go back to Terragen2 is the support for normal smoothing of .obj models and the soft shadows (although I shiver at the mention of "not optimized for speed").
More importantly, I see nothing that addresses Terragen2's main weakness: render times. I know multi-threading isn't easy to implement, but I feel it really should be way, way higher on Planetside's to-do-list. In fact, you really shouldn't be working on anything else right now.
Regardless how many fixes and new tools you guys introduce, users will always be stuck with impossible render times whether they own a P4, a Core Duo or a Quad. Whatever the amount of raw power you throw at Terragen, it will still runs at the same speed. I've done very satisfying images with it, but at the end of the day the render times are not worth the effort. And short of multi-threading, I can't think of much that would persuade me to go back to it.