Yes, It's been a long time coming and I am also very excited about the new release of PeopleTools 8.50. This release is available to customers running all of the recent PeopleSoft applications (eg. 8.8, 8.9 and 9.0) and is the foundation to the 9.1 applications.
There are many enhancements in this release that improve the users experience including Dynamic user interfaces that include partial page refreshes without having to take a trip to the server, mouse-over pop-up windows, improved menu's and navigation, and a whole lot more.