This week's Linux kernel RC still has more commits than Linus would like for this late in the development cycle, but overall he's fairly comfortable with the commits that happened -- they're all largely trivial -- and he thinks the final 3.4 release is near.
Some of the Linux 3.4 kernel features are talked about in this article like lots of graphics changes, faster Intel SNB, Btrfs file-system improvements, more power management work, and x32 ABI support.
Another week, another -rc - and I think we're getting close to final 3.4. So please do test.
There still are more commits here than I'd like, so it would be nice if things would calm down even further, but things on the whole have been pretty smalll and simple.
About half the commits are drivers (and networking driver changes account for almost half of that), with the rest being mostly arch (powerpc and arm), fs (btrfs and nfs) and networking (non-driver changes).
But all of the commits look pretty damn trivial, so on the whole I feel good about things.
Go forth and test,