Check out this video about the new features:

What is web2py?
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- It is the web framework used by PyCon 2009 for registration.
- It a very easy and very powerful Python web framework.
- It is fast and rock solid.

- It has a very clean design and it is  strong on security.
- Includes a web based development environment, maintenance  environment, and database administrative interface.
- Includes a Database Abstraction Layer that works with SQLite, MySQL,  
PostgreSQL, FireBird, MSSQL, Oracle, DB2 the Google App Engine. The  
DAL does migrations, handles aggregates, nested selects, inner and outer joins.
- Includes a pure Python based template language with no indentation  requirements.
- Includes jQuery, simplejson, markdown, feedparser, PyRSS2, nicEdit,  EditArea, Amy Editor.
- Runs on any platform that runs python. The binary versions can  run off a USB drive.
- The same apps can run on a PC with Oracle or on the Google App  Engine or on Windows Mobile, without changes, including the DAL.

- Includes API for authentication and record-level group based access control.

New features In 1.59:
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- DB2 support

- new Service interface to expose functions in CSV, XML, JSON, JSONRPC, XMLRPC and AMFRPC (Flash//Flex)

- optional Amy editor (instead of edit_area) has keyboard shortcuts and autocompletion