Puppy version 2.01 is released. The live-CD is puppy-2.01-seamonkey.iso and is 70.8M. Release notes:

Please read the release notes for Puppy v2.00, released June 1st. Those notes still apply.
Booting from CD in a RAM-challenged PC (32 - 128M RAM) has significant performance improvement. A swap file is now automatically created -- see news for June 18.
ALSA sound has been upgraded to version 1.0.11, to recognise recent sound chips.
Tcl/Tk has been upgraded to 8.5a4 and now has font antialiasing, that automatically works on all Tcl/Tk GUI apps.
The audio recorder/editor is now mhWaveEdit, version 1.4.8, replacing the Snack library and XS editor.
Perl is upgraded to version 5.8.6 and now includes GTK modules.
GPRename is a GTK-Perl application for batch file renaming.
Rarsa's mini-volume taskbar applet is upgraded to version 0.3.
MU's Puppybackgroundsetter is upgraded to version 2.0.
Jesse's MUT (Media Utility Tool) is upgraded to version 0.0.9c.
Unclutter is a utility to auto-hide the mouse pointer when it isn't moving. It is configured via the Mouse Wizard.
Installing to hard drive is improved, but there are still issues installing over an existing installation of Puppy 1.x or other distro -- best to wipe beforehand. The Installer's handling of creating a boot floppy is messy.
Lots of bugfixes -- for details, read the news below since June 1st. Upgrading from v2.00 is recommended.

UPGRADING FROM V2.00:
If you have a prior pup_save.3fs file (where all your personal files are saved), booting up the v2.01 CD will perform an automatic upgrade. There is however one odd thing with the ALSA kernel modules: these are upgraded to v1.0.11 but there is an error message about missing symbols and the snd-mixer-oss module does not load (so the sound mixer won't work). But, on the next reboot it is okay -- I investigated this for sometime and it defies logic, but perhaps it is a unionfs problem. Anyway, it's a temporary annoyance.
There is still a lot to-do, which has to hold-over until v2.02. The Universal Installer still needs work, as does hardware detection at bootup and booting from media such as PCMCIA and SATA. NTFS support needs attention also.