The idea behind Liquid Browsing is truly revolutionary, just have a look at the various videos on the LiquiFile website. Comparing the the current version of LiquiFile to those videos, you'll may think the current version of the application is somewhat basic, but looks are deceiving. This is indeed a very welcome addition to the Finder, which currently does none of the things in which LiquiFile excels, such as no-linear file selection on various criteria, quick overview of the contacts of all nested-folders etc. It takes some time to ‘see' the idea behind Liquid Browsing, but when you do see it, you'll wonder why this wasn't done before.
That said, and while this release is a very welcome update, I can't wait to see more of the exciting features implemented, as seen in the Liquid Browsing videos. Oh, and how about a version of LiquiFile for iPhone? :-D