SpeedTree 3 is now shipping with the following new features:
Completely new library. Same tree types, but all new textures and definitions for much higher quality trees.
Advanced Wind support. New wind tool, SpeedWind, enables fine control over the motion of trees in the wind.
Support for flared trunks on trees
Latest version of SpeedTree CAD Lite (version 3.4)
More robust foresting tools. Now with support for instances, copies, and references as well as automatic randomization for copies.
Enhanced Maxscript access. Speedtree now has advanced maxscript access so you can script most, if not all features of a speedtree tree.