I just installed this program, and did a test run. Looks great for beta software. Replaces the whole R GUI. I am especially interested in Sweave support that is rather flaky in Tinn-R or requires a lot of setting changes in WinEdt. I will write again after some more testing. It is available for download at http://rstudio.org/ where there is also some documentation.
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A new version (0.93) of RStudio was released today. It has some significant improvements.