As Rich mentioned earlier, WordPress 3.0 was just released by the Automattic crew. Here is a list of the changes to the WordPress template system as well as new tags to be used by theme and plug-in authors:
Custom Post Types plus Custom Taxonomy Improvements
Earlier we could only create Posts or Pages. But now with Custom Post Types, we can create lot more types of posts like Gallery Items, Movie Information Posts etc. which will be independent in style from a normal post. Custom taxonomies which got introduced in WordPress 2.8 got a small upgrade which now allows them to be hierarchial too just like a normal Category.
Its difficult to explain all this in a small post plus there are already awesome tutorials on this.
WordPress 3.0 is a huge release, offering one of the largest feature set upgrades in the history of the platform. The merging of single-user WordPress with WPMU is one of the most exciting, for now WP can run multiple blogs with one installation – something Movable Type has been capable of for years.
The combination of WordPress, BuddyPress and bbPress allows for the easy creation of a pretty wicked social networking site with relative ease.



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