I've been playing the newest build 11_18_2003_r (not the debug build) and it seems very much remeniscent of the latest fs2_open (the one with no alphabetical extension) although I have noticed some troubles. First of all, I'm using the 3.1 launcher with tags -htl & -t32, my videocard is GF2 MX 32MB, system is 800 AMD w/256MB PC133. The techroom scaling seems better, although it seems to be having some weird effects with the ship select screen pof rendering (that replaces the traditional ani). Sometimes a ship is displayed as it should, other times it is so close that you can only make it out at its edges, while other times it is only about a tenth of its intended size. Also, while playing "Mystery of the Trinity", I had my nebula turn into vertical lines. I played the mission all the way through, though it was kinda hard to target, but when I played "The Great Hunt" right after, the nebula was fine. I think it was probably an error I've seen even with Retail, just never one I've experienced in a nebula. Despite the frequent crashes (not CTD, but a freeze that I've reported before), a troublesome stick (maybe launcher related, maybe hardware related, not sure), and the ever-present lack of jumpnodes, it works rather well.
Later!