The latest version I've tried was 1.03. Don't understand how this version fits in. It's a subversion build, but how to relate it to 1.03?
Anyway, i agree it seems much faster although I haven't even begun tinkering with the settings yet. I got 25-50 fps in Crazy Taxi and it's actually more playable than the Dreamcast version on my computer (but I have som graphic glitches to try to sort out on that one):
AMD Athlon 64 X2 4000+
8500GT 512MB
2GB memory
Going to try Smash brothers melee next.
UPDATE: Tried SSBM now and it runs even better. Fps is between 20 and 60 ingame, and the low 20 was on a very detailed stage with three other characters (including big Bowser) but there are definitely less graphic errors than Crazy Taxi so far so I would definitely say that when it comes to speed a few games might actually be playable depending you have a good computer.
Also, I'm pretty sure I can get a little more out of Dolphin once I get a hang of the settings.