As seen in the MINIX news site, the 3rd major release of this operating system has been released today. As seen in the new web site:
MINIX 3 is a new open-source operating system designed to be highly reliable and secure. It is based somewhat on previous versions of MINIX, but is fundamentally different in many key ways. MINIX 1 and 2 were intended as teaching tools; MINIX 3 adds the new goal of being usable as a serious system on resource-limited and embedded computers and for applications requiring high reliability.
The fact that it is based on a microkernel and published under a BSD-like license have raised my interest in this new version — yes, I like the microkernel design more than the monolitical one (and this is one thing I don't like from NetBSD).

I've already tested the downloadable live CD and looks promising. It's extremely fast, but obviously less functional than a complete BSD or Linux system (at least for now). I still remember when I tried Minix 2.something on a 386SX 16Mhz laptop; it really made a difference compared to Linux (using a Slackware 3.4).

I guess we can expect nice things from this new code-base.