EditReady has actually had two fairly significant updates recently. The first, and biggest, of these was the 1.2 update which went live right at the beginning of March. The major news in this release was that EditReady had, in essence, gained all of the functionality of Divergent Media's other popular media management app, ClipWrap, which excelled at rewrapping and transcoding AVCHD footage in mind-blowingly short amounts of time. This is a major step for Divergent Media because it signals that they're throwing a ton of resources into making EditReady not only the fastest transcoder around, but also one of the most versatile.
Here's the full list of upgrades from the 1.2 release.