It wasn't that long ago that I upgraded to Movable Type 4.3 - in fact, MT 4.3 was only released about a month ago. However Six Apart have been developing Movable Type 5 in parallel and the first beta version was released yesterday. It will be around 2 months before the stable version goes live but the curious can look at this test version now.
By the looks of things, MT5 will steer the package more towards being a full-grown Content Management System, rather than a blogging package with some CMS features. There will be much greater pages support, redesigned control panels, and extra custom field support in Movable Type Pro. There's also better Theme support.
Unfortunately a change in the system requirements mean that MySQL 5.0 is now needed. My host only offers MySQL 4.1, so I won't be upgrading unless 4.1 is supported, or my host upgrades MySQL (version 5.0 has only been stable for 4 years...), or I find a new host.
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