This update lets you fly 3 of the 5 human fighters. Available are the Boomslang, Copperhead, and Cobra.
Things to note are the adjustment of the the double-tap barrel roll into a tap-and-hold strafe roll, improved dynamic music, the removal of the old testing explosion spheres, Better collisions for the alien fighters, removal of player invulnerability, better enemy wave timing, better text and font rendering, and tuned weapon sound FX.
For fun, try the Gamma Burster weapons on the Cobra. Think of them as dual-mini-deathstar lasers. They will wipe out your gun capacitors, but they will kill most light-to-medium fighters in a singe sustained shot. You have to maintain beam contact, however.
There are many more minor changes, so keep an eye out!