Work on the standalone version has progressed to the point where we have only very little media left to replace. In terms of programming, Tremulous is in a finished state bar a short testing phase. Tremulous will inherit all of ioq3's features as detailed in its README. A couple of features have also been added to Tremulous with the standalone version. Firstly, a scriptable trail system. This is used for the pulse rifle and tesla generator as seen below. Basically this allows the trail effects to be defined externally to the code, so no code recompile or programmer is necessary to change the effects. The other two shots show the new tutorial mode. This indicates which controls are available to the player in a context sensitive manner. Hopefully this will help slacken the learning curve a little bit and cut down on newbie questions during the game.
Assuming there are no last minute disasters and testing goes to plan (keep an eye on the forums if you want to participate), you should expect standalone Tremulous 1.1.0 to be released within the next few weeks.