Update (2010-02-28): 1.2b3 is out. URLs are changed below.
Update (2010-02-19): 1.2b2 is out. URLs are changed below.
This is the first 1.2 release uploaded to PyPI: http://pypi.python.org/pypi/Shapely/. I hope the new README introduces the package more clearly. The manual lags: it will be the last thing before a 1.2 final.
A consequence for downstream developers is that a package that depends on Shapely in the setuptools sense without specifying a specific version will now begin to pull in 1.2b* releases instead of 1.0.14. 1.2b1 seems to be working with GEOS 3.0 and we didn't intentionally break backwards compatibility, but you should be cautious about this. If you're depending on GEOS 2.2.3 and haven't already pinned your package to Shapely==1.0.14 (updating as you go), you should.
To install and try it out (in a virtualenv):