Woot! It seems that as expected v1.5 was released last night.

The upgrade went like a charm for me following the instructions in the codex.

Including keeping my 1.2 style theme for the moment. Now I need to get round to creating a proper theme for this site (and giving it a better name too!)

Release Announced on the dev blog at last!
Well done to Matt and all the rest of the wordpress dev team.