It seems like it’s taking forever (at least to me), but there are a lot of good changes in the latest beta (5.0b6) which I just posted at http://www.stclairsoft.com/DefaultFolderX/beta.html
Older Carbon apps will no longer always start in your Documents folder, the Finder-click feature once again allows you to click on the Desktop as well as on Finder windows, and there are significant improvements in several areas that speed things up and make Default Folder X more reliable.
My bug list has gotten much shorter, and there are only a few features missing now – yay!
Thanks for all the feedback (both positive and negative) and all your support. Please let me know if you run into any problems with 5.0b6!