Second version of a new physically correct rendering framework Mitsuba is out. 

The interesting thing about Mitsuba is that it combines both biased and unbiased techniques, as well as various approaches to photon mapping.

A list of changes is rather large, here are the presumably most important bits:

• a better COLLADA importer, a newly added PLY importer;
• experimental support for Blender 2.5, requires Blender from SVN;
• offset and scaling controls for UV mapping were added;
• work on hair rendering has been started: a bunch of hair can be rendered already, but no specific scattering algorithms are employed yet;
• some materials and textures were reimplemented in GLSL, so they can now be used in the interactive preview.

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More on this topic:

• 3Delight exporter for Blender updated to feature new global illumination method
• Mitsuba 0.3.0 released with new sun/sky model and other improvements
• CGRU v1.5 released with more sophisticated support for Houdini
• LuxRender 0.8 released with new features and GPU rendering
• New "Secret Spaces" competition from LuxRender