In case anyone still cares, TBP 3.3 was released last Wednesday. I haven't toyed around with it that much, but from what I can see, there are now a whole bunch of new ships to play with, including the Drakh and Shadow fleet. There's even a Vorlon Planetkiller that seems to be properly scaled. I tried just putting that into a quick custom mission, but it just kept killing everything in the path of its -wider than any other capital ship- beam, before anything could even approach it. I put myself on invincible, but I think some of the collision detection might be a bit messed up at that scale. Even so, my Starfury wasn't going to do much to it. There's also the ISA Victory class from Crusade.
Some models that are included in the tech room and in the mission editor list do not actually work yet, or at least they keep crashing FRED if I try to add them to the mission. Those, as far as I have seen, include the Drakh mothership and Babylon 5. It's a shame, because I'd really like to see some Shadow Battlecrabs slice it apart for fun. I don't have any screenshots yet.
You'll need to download about 4-500MB of files. From the project's download page, you can actually just right click and save as the necessary files, rather than registering at the download page, which was really strange, but still good for me. If you're just starting out, you need the 3.2 base (~300MB), 3.3 base (~20MB), and the 3.3 fix patch (~40MB). If you want to have any missions to play, you also need to download the various mission packs. I had a bit of trouble getting the thing to run initially this time, but just remember to select the proper FS Open version in the launcher (I think it's .367 or something like that). Have fun.