As of this writing, there is one public release of Sitefinity 4.0. However, we are planning several additional releases (CTP2, CTP3, BETA, etc) in the coming weeks. Our goal with Sitefinity 4.0 is to make installation effortless. However, we also want to make Sitefinity upgrades effortless.
Sitefinity 4.0’s Project Manager contains an Upgrade button. This button, when clicked, upgrades the selected web site to the current version. One click and it’s done. Period.

I am now blogging primarily on the official Sitefinity Blogs. This full blog post can be seen there.