TheConzio has made a video explaining / showing some of the differences and advancements made with this build since the last Dec 2016 build.

Here's what's posted by R8 about this update.

We’ve just released an EA update!
- new Multiplayer with Lobby notifications and Spectator Mode
- new Night and Reverse track variants
- new re-worked Trans Atol and Mannahatta tracks
- new Music by Leon Switch
- all craft can now race together

in detail:

- Multiplayer re-worked with useable Weapons*1
- NEW - Lobby notification system:
- toggle On/Off in Settings / Gameplay and you get notification when anyone creates a Multiplayer Lobby
- NEW - Spectator mode
- joining a lobby which is racing*2 places you in Spectator Mode
- choose pilots & cameras including Orbit cam controlled with R-JoyStick
- UI is placeholder / wip

- NEW - Midtown Trafik Reverse, Night and Night Reverse track variants added
- NEW - Niagara GP Reverse, Night and Night Reverse track variants added
- NEW - Atlas Torres Reverse, Night and Night Reverse track variants added
- NEW - Mannahatta track reworked + Reverse, Night and Night Reverse track variants added
- NEW - Trans Atol track reworked + Reverse, Night and Night Reverse track variants added
- Atlas Torres tunnel has extra Speed Pads at the start and loses the half pipe at the top

- Card system has been updated, Weapon Behaviour slots have been reduced from 5 to 2
- NEW - Cards have been added to the Garage in the Engine Slot
- they represent the Speed Classes. Please note these cards are temporary and will not exist in the final release - they’re in to allow you to experiment before inclusion of Speed Class selection.
- NEW - LoadOut editor - wip
- Default Craft Skin can now be set in GARAGE / SKINS

- Custom Controls for keyboard and controller are temporarily removed while we rework the Settings Menu
- Screen Custom Resolution Scale is now a percentage based slider bar
- Anti-Aliasing methods added

- NEW - all craft types (Vixen, Python etc) now race together.

- NEW - Game Modes for Race:
- Clean Race - Single/Multiplayer - no weapons - only engine mods - default class FF4000
- Elimination - last place on each lap gets eliminated
- Endurance - your Health/Shield drains constantly - longest distance covered wins
- Speed Lap - Singleplayer - best lap time in a race wins - you set no. of laps

- NEW - Menu UI
- NEW - Voice Alerts
- NEW - Music by Leon Switch

- NEW - Steam Cloud Save enabled - closing game saves state automatically to Steam Cloud

- Some Options have had their names changed:
- Multiplayer = W.A.R (World of Anti-gravity Racing)
- Replays = FXTV
- Custom Event = Race

- SFX and VFX have been reworked and tweaked across the board
- Energy Bolt now has some Guidance added by default
- Craft stats have been re-balanced to be closer to the final game.

- BOOST system is now fixed
- Pilot Stats are now visible
- Records Menu added, included in the menu are FXTV, Pilot Stats and Leader Boards

- SFX spikes on loading screen
- Spectator Mode starts incorrectly with Grid countdown as you enter the race
- *2 Spectator Mode - lobby doesn’t indicate that a race has started
- Midtown has lighting flicker issue
- occasional camera wobble on grid
- Chat Box in Multiplayer Lobby is WIP
- Garage camera can counter rotate if Slots are chosen too quickly in sequence
- Garage - Test Run does not work
- 1* Gauss Cannon does not yet work with Guidance and has visual bug in Multiplayer
- Multiplayer - Host will very occasionally fail to initialize the countdown sequence
- DOF issues on Medium settings especially on Atlas Torres and Niagara
- controller vibration occasionally persists after activation and at race end
- night time variants require more lighting

As ever we look forward to reading your constructive feedback but we are especially interested in hearing from you about:
- Multiplayer
- the speeds of FF4000 and Elite speed classes
- reverse and night track variants
- the BOOST feature - more, less, incremental release? etc etc