Please bear with me I'm posting this from my phone on the way to work. Please READ all of the following it's very important information. We will post all credits tonight.
While most who are on this version as of now say it's one of the most solid builds, the reason this is a beta is because there were a few more things that needed to be added (wanted to add) before an initial release and of course as you know, 2.3.4 was released by google. To answer many of your questions the final should be 2.3.4 (hint hint).
Now about the rom. Ok first the libaudio is built from source (credit to the cmcrew), which allows dsp manager to work. This does break a couple of the things such as the bluetooth lady's voice (which says speak now) if you do not use dsp and would like the bluetooth voice to work, we can post an update.zip which will allow this to happen. Be aware, though, that the bluetooth lady fix breaks dsp manager.
2nd, there is an option in the general section which allows you to switch to a preset set of values for lowmemory task killer. The stock values are froyo values but most have reported these are working well with the othe tweaks to help with the infamous apps being killed in gb. If you uncheck the box it will switch number to a lower set of values, which was tested (credit to pete for help with these values). There is also an option in the performance section for purge assest (credit and thanks to the cm team) if you are running low on ram then you can use this option to free some ram up but it may effect the scrolling quality in some apps. I have not noticed a difference while testing in the quality of scrolling.
the stock kernel is PE 1ghz lv (default gov is interactive but it does have the smartcpu gov if you'd like that) If the lv does not work below is a 1.1 sv pe kernel. IMPORTANT: As of now there are only a few kernels which have the mods needed to allow usb to mount in this rom. This is due to native tethering being fixed (credit to cvpcs). The pe kernels work, petes v2 kernels, deprimed kernels and corcor has been tweaking his smartmod kernels for p.e (I will post the link when I get home for these). Other kernels will work but you won't be able to mount your sdcard unless in recovery if you use other kernels. Also the rom supports kernels that use zram for compcache not rzSwap. I'll look into making it work with both before a final release.
Overclocking: overclocking no longer needs a reboot to change settings. If you change the speed or governor it now changes instantly so you do not need to reboot.
While there are not a lot of new features in this version we tried hard to inscrease the stability and performance from v5. 14mb to 18mb or space in the system was saved (should help with the themers who them apps which was an issue in v5). There were many many changes behind the scenes to try and improve upon everything that was learned from the inital pe gb release.
One more thing: After you setup your phone and everything syncs, please reboot. I ask this because for some reason every once and a while after first installing, when you make a call you can't hear anything. A reboot will fix this permanently. I'm not sure why this occurs but this is happening in a few other roms as well and it being looked into -- so if this happens just reboot and it won't happen again.
PE 1.0 lv (default) (default gov interactive but does include smartcpu) credit to corcorfor help with that
PE 1.1 ghz lv
PE 1.1ghz sv
Corcor Elite Series kernels beta v2
1.05ghz lv smartmod (pe request speed)