So what's changed from the last version, released back in October last year? Well, first-off the application is Leopard-only which may well irk some readers (debate away in the comments, folks). Throw in improved queueing, Sparkle updating for keeping Handbrake up-to-date, iPhone Anamorphic video, 'multi-track audio on Apple devices' and Elgato .eyetv file support. Of course, there's many, many, more enhancements that we're not mentioning, and the changelist shows there's plenty of new goodness in this release.
All for the very excellent price of free, the new version is available from the Handbrake site for Mac, WIndows and Linux citizens.
*It goes without saying that you should only use Handbrake for DVDs which you are licensed to do so. TUAW does not condone piracy.