There are barely any new features or models. Making it 2.0 would make people expect a lot from the new version, but they will only get a tiny improvement.
There will be new models (some things will be replaced, most won't, but there'll also be new models for some new minor features), and even though I've tried to retain the "feel" and intentions of Tremulous, the gameplay is different in almost every area (to varying degrees). And whatever you mean by "barely", Amanieu, is debatable and subjective, but I'm all for lowering expectations (they're already unfortunately high after having gone so long between releases) so I'm sure we'll stick to "1.2". Versioning schemes are only internally meaningful anyway.
And Unanimated, if you haven't tried the gameplay changes yet we have testing games every Saturday at 20:00 UTC, alternating between a US and European server. I update
this thread (check the last page of posts every time) every week before the game starts to remind everyone of the details.