Alpha 2 uploaded. Changelog covers the important bits. Most of the changes covered in the discussions in this thread are still not implemented, simply because time isn't infinite
Edit:
Alpha 3 uploaded, I've had to disable the on-screen previews because of the stupid amount of errors/bugs I completely missed with them (for instance, errors when creating displays, deleting them, etc.). They'll be re-enabled soon.
Yet Another Awesome Edit:
Alpha 4 uploaded, re-enabled the previews after fixing the most obvious errors. Please report any others that you find