After months of hard work the Gentoo Foundation are proud to bring you Gentoo 2004.3. 2004.3 brings you several new features, such a much improved genkernel (for automatically building a working kernel) and cascading profiles. On the Pegasos side of things the LiveCD has become easier to boot, you simply type "boot cd boot/pegasos" in SmartFirmware to get going.
To upgrade an existing installation simply run "rm -f /etc/make.profile; ln -s /usr/portage/profiles/default-ppc-2004.3 /etc/make.profile"
The complete release information can be found
here.