Release notes:

The great news for this release is the Puppy live-CD now has Gnumeric, the premier Linux spreadsheet editor. This is version 1.4.3 and includes the full set of plugins.
MUT (Media Utility Tool) version 0.0.5 is now in Puppy. This is a greatly enhanced drive mount/unmount alternative to Pmount. Written in Tcl/Tk by Jesse Liley especially for Puppy.*
Printing support has been improved, with a patched AFPL Ghostscript version 8.51 and a patched Abiword version 2.2.7.
The WvDial package in the live-CD is now usable and available from the menu. Along with Gkdial and Xeznet/eznet, there are now three alternative Internet dialup programs.
Gxine playing of streaming audio has been improved. We found that some RealAudio files would not play, so a codec file is now in Puppy to fix that. For playing of a wider range of RealVideo and other formats, the complete codecs package from the mplayer site is now available as a PupGet package -- it is named "xine_extra_codecs-1".
Syslinux is upgraded to version 3.08, Grisbi to version 0.5.7.
Puppy had the gtkftpd FTP server, however it is troublesome, and the live-CD now has BetaFTPD, adapted for Puppy by papaschtroumpf (his Forum name).
There is a new audio file player, called tomAmp.
New PupGet packages include ELinks version 0.10.5 (a fantastic text-mode web browser), OpenOffice version 1.1.4 (wordprocessor, spreadsheet, drawing, image gallery, presentation),** TEA 10.0 (text editor), Xfbdev (framebuffer Kdrive X server) and the kernel framebuffer modules.***
And of course heaps and heaps of DotPup packages contributed by Puppy-enthusiasts, in particular GuestToo (Forum name): DotPups.
The kernel has been upgraded from version 2.4.27 to 2.4.29 with support for framebuffer, HMAC encryption and the default ramdisk size increased from 11264K to 12288K.
The GTK2 libraries have been upgraded from 2.2 to 2.4.****
The live-CD boot menu now has an option "Choose HD" which enables you to choose a partition and name for the personal storage file, for example "hdb1" and "pup002", instead of the default "pup001" and automatic choice of partition. This mechanism is intended for experimenters.
I did some work on the Lucent and Smart-Link linmodem driver setup -- see notes further down. Jcoder24 has compiled drivers for HSF/HCF linmodems, and I setup Puppy to recognise the drivers when they are installed -- watch the Announcements section of the Forum for further details.
A lot more small improvements -- read the notes down to and including the release notes for Puppy 1.0.3 -- in fact, if you are a Puppy-newbie, please do read the 1.0.3 release notes as they apply to 1.0.4 also. The FAQ has also been expanded.