[airhadoken]

For the purpose of commentary, let's assume that you're actually creating a product for the public. 1.0 means that this is the first point at which you're confident that the product reflects your vision for a first release. It is feature complete (for all the features you haven't pared down or pushed back), and all of your known bugs from the beta period have been addressed.

Notice that I said "known bugs from the beta period." If you haven't had a beta period, you're having one now -- you're not at 1.0. I align with the traditional camp that considers beta software to be on a feature freeze. They may not work right yet, but they're implemented.