Well as I just sent you the PM but should mention anyway, it looks like the guys at 2ch might've beaten me to it, and now there's a G-Wange v1.01.zip available for download:
http://kohada.2ch.net/test/read.cgi/gam ... 034353/l50
Download:
http://www1.axfc.net/uploader/F/so/73442
Top password is GWA (all of the downloads which have passwords use GWA), and the bottom one is a image checker where you put the letters on that screen in the right etc etc.
I haven't tried it yet but will do so in a minute. I doubt it'll be too different from v0.8 besides fixes/introduced bugs but who knows eh.
EDIT: There's a bunch of new ships but they're a bit weird as they don't seem to do much. There's three 'Ikaruga' ones but one is a blue XII-Stag clone that uses the old XII-Stag ship code (small sidelasers that do buggerall), a red one that just has homing lasers that have to be tappressed to work, and a white one that seems to have a ring around it that changes colour if you hold down Z but doesn't do anything to bullets. In addition, the Guwange ship has been altered to work almost nothing like the characters of Guwange, the ESPStream got nerfed,
there's a Radiant Silvergun ship now and this weird flying chick who has one life, uber attacking power and ridiculous speed (and no speed at all if you hold down Z).
As for the actual stages, some have been improved, a lot of the test stages and stuff that added unnecessary bulk have been removed, Black Heart MK-II is properly finished and is accessible via normal means (it has the mini-Black Hearts that spawn before it now on stage 7) and graphics that were placeholders have been replaced or at least partially.
Overall this still looks like a work-in-progress but much less so than what it used to be. There doesn't seem to be any changes to the interface or the actual EXE itself so I'm guessing whoever's the main guy working on this doesn't actually have the source code for the engine itself but is just finalising the levels and stuff. Also, some new music here and there.