Today, two new versions of CakePHP have been released: 18.104.22.16805 (a bug fix release), and 22.214.171.12406, the long awaited development version of CakePHP 1.2. It contains several new features, e.g. an improved form helper (see Nate’s introduction), a mail component, and I18N support. See the announcement for more details.
Happy baking :)