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Release notes
The 2.x branch has been created! Most of the code in there right now is working. The notable exceptions are asset_panels and asset_import. Please don't post issues on these unless you are supplying a patch, since these are known to not be working. Also, the asset_bonus module isn't as fully updated as I would like to see.
Asset embed is gone in favor of integration with the Embedded Media Field through the asset_emfield module. This is pretty exciting, since we can now piggy-back off of the work they are doing, especially when it comes to providers. On a related note, the asset_search module can display inline search results of various sites and turn any result into an emfield asset.
Upgrading from the ALPHA version is going to be problematic. Hopefully, we will be able to workout an upgrade path (eventually).