Here's whatsnew per the homepage:
"The emulator is able to run almost all original GameBoy games, although you may notice a few graphical glitches. For the GameBoy Color, only a few games work, others have a lot of bugs or are just unplayable.
For the 0.3 release the project as been further split up and all platform specific code(like System.Drawing) have been removed from the emulation code. It is also now up to the interface to load and save files, this allows the author to use a file system they prefer. Save states have been removed and should be reimplemented in next update. The drawing code has been optimized and there is now a frame-skipping option to help people creating ports on slower systems."
Get it here: