Innuendo, I respect that they have hired another developer, but the problem with that is now, as you said, he has to play catch up and learn the code. Also, after talking with Murray, I am sure that he will have to triple check all code as the last developer they hired didn't know his stuff and caused many issues with actual releases.
The other issue I have with the slow development is the constant promise of all of these features which keep getting pushed to the right. Please notice, it took nearly 1.5 years AFTER Vista's release to get support for it. Windows 7 came out and they decided to not make the same mistake and jump on board early. Fine, good plan. But what about the other features which were promised for 4.73, in beta since Jan09? What about all of the users who don't have a version of ad muncher installed that is set to check for BETA updates? Unless you specifically know about the forums, irc channel, or the beta's, a normal user would not know to update. I did a test and did not update my father only to see if he noticed ad's starting to appear. Within 2 weeks of no updating, he reported to me that he started getting intermittent ad's which only increased as the month went on. It was at that time I told him to upgrade. Had I not been around, he would have assumed the product stopped working. Yes, releasing two lists can be counterproductive, but if you push out a new list format, RELEASE A STABLE VERSION so that users can take advantage of it. Don't force something onto any machine with the beta tag. My dad took 15 minutes of explaining as to why I was putting something that was labelled as a "test version", his understanding of the word beta, onto his machine. I understand that the code is stable and likely will not cause issues, but that is not something most users understand.
As I said, I support what the developers are doing but I feel they have promised too much and are taking too long to deliver what they promised. If this were someone serving as a project manager, they would have been fired in my line of work. I will hate to see when they try and venture into linux territory come 5.0's 5 year from now release. Development on the Windows version will probably come to a halt.