If you’re using Yahoo!Messenger and didn’t notice this yet, Yahoo has just released a new beta version (v7.0.0.242) of their latest Yahoo!Messenger software. Yahoo! Messenger allows you to quickly exchange messages with your online friends. Unlike e-mail, instant messages appear as soon they’re sent. By downloading the application to your computer, you can send instant messages. A list of complete features is quoted below.

You can download it right here (US edition) or here (Indian edition).

Update (thanks Andry for the info):
Only Windows version is available right now, so if you’re using *nix OS, don’t bother to download it :p

Features

Add and invite friends from Outlook and Yahoo! Address Book
Build your Messenger List by adding contacts from Yahoo! Address Book and Outlook.

Share your contact information with friends
Send your contact information to a friend.

Search the web from within Messenger
Search the web from the IM window, the Messenger List and from Yahoo! Insider.

Report SPAM
Identify messages from people you don’t know as SPAM to ensure you don’t receive messages from them again.

Archive
Access to previous instant messaging conversations.

Yahoo! 360 integration
Invite friends to Yahoo! 360 and view their updates.

Share Messenger List
Share the friends on your Messenger List with your friends so friends of friends can connect.

Call feature
Free worldwide PC to PC calls.

Drag and drop file transfer
Drag and drop multiple files in the IM window.

Stealth Settings
Control over who sees you online or offline.

Voicemail
Leave voicemail messages for friends when they can’t talk with you.