The previous release (8.x-1.0-alpha1) was more than 6 year ago. But most users will probably upgrade for a more recent dev release. Be aware that a major overhaul of the hart of the module has taken place recently. If your custom code or custom patch relied on code in the pcp.inc file, your customization will be broken (sorry, but the module is in alpha).
The major outstanding bug issues where fixed in this release. All feature requests are being bundled up into the next full feature release soon to com.
Fixed known errors when installing PCP module. The Form API was receiving an empty array when navigated to the admin settings area. Declaring an array for $options now avoids this problem.
Fixed error displayed when first installing the module. Declared $options as an array() on pcp_admin_settings_form_data() so the form api can handled an empty set of data.
The pcp.install file did not have a working uninstall hook. This has now been added so that you can remove / uninstall this module and have all data associated with it removed from your databases.
There was an issue with the way the ID tagging for CVS was being handled. Originally I changed the .info line 1 to read // $Id$ and this needed to be changed to read ; $Id. Because of this an error was being thrown from the module so I've made this change and updated to v1.3