The new point release adds lots of new stuff and features, like the ability to run old Amiga games and demos from their ADF files. You still need Amiga Forever or spare original Amiga ROMs to do that. Amiga games are not the only ones that can run with a double click on their icon: D64 files are also supported and assigned to the VICE emulator.
Icaros Desktop, however, doesn't cater retro-gamers alone; 1.2 also adds some demos for the upcoming Gallium3D port to AROS which works on some GeForce cards. Owners of a GeForce 4, FX, 6 or 7 video card can run GLexcess and other MESA demos with full hardware acceleration.
Some important steps have been taken regarding hardware support, and Icaros Desktop can now run on some old laptops and also on many modern netbooks. An (incomplete) list of new features, with screenshots and download links, is available at the Icaros Desktop website.