Great news. Blender foundation just released a test build for Blender 2.7. This release has a lot of improvements and additional features.
Volume rendering is available for Cycles.
There are currently three shader nodes for rendering volumes:
• Volume Absorption: Absorbs light as it passes through the volume, can be used for colored glass absorption.
• Volume Scatter: Used for smoke, mist, etc. (when creating colored smoke, add to an Absoption shader of the same color)
• Emission: The old shader plugged into the Volume socket of the output node can be used to emit light.
Improved CPU rendering: more speed
OSL has been updated to version 1.4.x. This gives a 10-30% performance improvement and new features such as Simplex noise.
Weighted track is added for motion tracking, plus a lot of improvements for planar tracking
More functional and easy UI and tool bar
Laplacian Deform Modifier is added for modeling. The Laplacian Deform modifier allows you to pose a mesh while preserving geometric details of the surface
Improved Bevel modifier
Added wireframe modifier
Recoded Boolean modifier
Threaded dependency graph is added, means more speed for viewport navigation and rendering for complex scenes.
Photoshop PSD files can now be loaded in Blender
Read more about new features here
You can download the latest build from these links.