Adobe has released the Adobe Camera Raw 4.1 plug-in for Photoshop CS3. Jeff Schewe has a very detailed article about the new features (sharpening, clarity, noise reduction, …) on PhotoshopNews.com. All these new features will eventually also be available in Adobe Photoshop Lightroom 1.1 - knowing what will be available makes waiting for the update even harder 
Sean McCormack has a summary of all the information that’s currently available about Lightroom 1.1