I did some extensive testing last night, and saw where several of the "bugs" from the previous firmware/drivers have been addressed.
(1) You can now start new files without having to reboot the unit. I recorded for 30 minutes at a time last night, would start a new file, record for another 30 minutes, stop, record for another 30 minutes, and so on....and the unit never froze.
(2) Any changes made in the "Rec Settings" menu option now actually change without rebooting. As noted above I recorded several different 30 minute tests last night...and each time I'd start a new file I'd also change the settings, i.e. the first file was 16/44.1, the second was 16/48, the third was 24/48, and the fouth was 24/96. All files were verified as having the correct settings (bit depth/sample rate) in Wave Lab 5
All in all this thing is getting much more stable everyday. If they would just fix the 2GB limit, and figure out the 24/96 S/PDIF input...we'd have a clear winner.