Inkscape is an open source vector graphics editor, with capabilities similar to Illustrator, CorelDraw or Xara X, using the Scalable Vector Graphics (SVG) file format. Inkscape runs on Linux, Windows and Mac OSX and features transparency, gradients, node editing, pattern fills, PNG export, and more.
While Inkscape 0.48 hasn't been officially announced on its website, the new version is already available for download.
Inkscape 0.48 adds multipath editing, LaTeX export with PDF/PS/EPS, a new Airbrush tool, a new extension called JessyInk for creating presentations, improved text tool: subscript, superscript, numerical input for text kerning, tracking and much more. You can read the huge list of what's new in Inkscape 0.48, here.
Ubuntu 10.04 Lucid Lynx and 10.10 Maverick Meerkat users can install the latest Inkscape 0.48 from Rico Tzschichholz's PPA:
sudo add-apt-repository ppa:ricotz/ppa sudo apt-get update sudo apt-get install inkscape
Windows and Mac OSX users can download Inkscape 0.48 from SourceForge.