I commited a first try at updating NEWS. I'm sure I forgot many things.

Don't be shy; tell me. And if someone wants to take over this file,
please do. Trying to write correct english is somewhat painful.

Anyway, here is the relevant part.

JMarc

What's new in version 1.2.0?
----------------------------

LyX 1.2.0 is the version where many of changes in the 1.1.x series
really begin to pay off. It should prove to be a very solid base for
further developments. As of this version, we use (yet another) new
versioning scheme: next major version will be 1.3.0, and 1.2.x will
be just incremental fixes (like the fix series used to be for 1.1.5
and 1.1.6).

This version sees the introduction of the so-called `new' insets,
which can contain arbitrary text. As a consequence, many new features
are now possible:

- Floats, footnotes and margin notes are now real insets. The
   positional parameters of figure, table and algorith, floats can be set
   float-by-float

- Most problems with the new table inset of 1.1.6 have been resolved
   (memory consumption, spell-checking, search and replace...)

- TeX mode has been superseded by the ERT inset, which is foldable, or
   can be shown inline

- Notes inset can now contain arbitrary LyX constructs; they will not
   appear in the output.

- New minipage inset


Other more traditional insets have been improved too:

- New graphics inset with support for hassle-free inclusion of various
   image formats (GIF, JPEG, PNG and EPS by default) and a new
   rendering scheme that should fix the bugs we had with the older
   ghostscript method.

- Support for natbib for bibliography citations



The math editor has been mostly rewritten. This begun as a general
cleanup, but it turns out that many new features happened in this
process, among which:

- possibility to display arbitrary TeX symbols as long as the fonts are
   made available to the X server

- support for many amsmath features

- Improvements to the parser

- Improvements to math text mode

- (Better) support for nested macros

- (Better) support for \limits/\nolimits

- Enable size changes to arrays after creation (add/delete rows/columns)

- Support for changing font on a selection


Other changes include:

- Most of the popups have been rewritten in the GUI-I framework, and
   improved in the process

- The kde frontend has been dropped in favor of a new qt2 frontend.
   Note that only the xforms front is really operational as of this
   version and alternative fontends are expected for 1.3.0

- The citation dialog has a search facility, with support for regular
   expressions.

- New ligature break special character, useful for words like
   "shelfful", or many german words

- Support for parsing preamble when converting LaTeX files. Along
   with changes in the LaTeX production of alignment options, this
   improves round-trip work where you export a LyX document as
   LaTeX, and later reimport it from LaTeX.

- Updated documentation

- Support for setting bookmarks and jumping to them

- It is possible to cycle between a label and its references.

- Preliminary support for multiple bibliographies

- Babel can be disabled when using the default language

- A thesaurus facility (English only)



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