A new release with an awesome feature set!! http://area.autodesk.com/3dsmax2011
Here are some of the new features:
Slate Material Editor
Quicksilver Hardware Renderer
Local Edits to Containers
Modeling and Texturing Enhancements
Viewport Display of 3ds Max Materials
3ds Max Composite
In-Context Direct Manipulation UI
CAT Integration
Ribbon Customization
mental ray 2011
Updated OpenEXR Image IO Plug-in
Save to Previous Release
Windows 7 Support