In my view stability will always be much, much more important than features. We can always creatively work around feature limitations, but when your work is lost because of a crash or file corruption one considers giving up and becoming a triangle player.
I've voted for fixing and releasing. I've not been around much lately (nor doing that much audio stuff for various reasons) but I've been a bit puzzled at what seems to be a significant change of development style at Reaper - for which of course there may be some very good reasons, I realise. But things don't seem to be the way they used to be. Having said that, I remain very happy with the most recent 2.xx version - it's not as if it's stopped working or something!
For what it's worth, we are close to being done with the feature set for Reaper 3. I do want to say that it's not like "add a bunch of features and don't fix bugs" is a one of the options though. I'm sure there will be some nitpicks or intermittent-type bugs (or arguable-bugs) that persist, and given the number of new features there is a lot of corner-case behavior, but if we are able to identify and reproduce any clearly identifiable bug, we will fix it. ... also, Reaper 2.55 was just released last month ...
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Perhaps if we were talking about any other software developer, then I might be slightly nervous about the release of v3 right now, for fear of having to live with any problems or bugs that might remain until the next so called 'patch'. However, we are talking about Cockos here, and as we know they are always listening and always working on fixing and improving things, irrespective of the version number. So, if they feel the time is right to let loose a new version, then no worries here.
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I've just seen screen shots of V3 and have been hanging here seeing what's up.I think cockos should release as stable a version as possible then watch steiny, cakewalk and all the rest quake in their boots! A solid Reaper above all.