It's a gross understatement to say ODCL 5 beta 1 represents a ton of effort. I'd summarize the post on source forge but really, there's no fluff in Owen's announcement, so I'll just provide the
link.
Ok, maybe I'll just say "ODCL is awesome, the lisp lovin' programming community will no doubt be excited and grateful for the
numerous improvements to the runtime, development environment and documentation, as well as the direction the product and community is headed. In a nutshell, wow!".
Congrats to Owen and supporting cast.