Generiquest to be specific.
And it is going through a fair lot of changes.
The major change is the code looks better, and is more organized. Might not seem like a major change, but when you're sifting through tens of thousands of lines of code spread over hundreds of files, it can be pretty hard to find anything. Which in turn makes working on the game really hard to do.
Other major changes include...
All maps are to some degree redesigned. Some are fairly similar, but more interesting, others are completely different and you probably would not recognize them.

Here is an example. It is the new town map.
The town is the relatively small top left section of the map. It has everything it previously had, but looks better and is more compact.
It also has a few new stuff, a castle like building which is a school (and place to get quests), farm land to the south and a graveyard in the middle. But everything else is more or less in the same place.
(Blank areas on the map are blank because players cannot access or see them, no point in mapping an inaccessible area)

That is what it looks like in game.
The next major update is quests. There will now be two types of quest.
The first type is usually related to a specific character or dungeon, and usually has some sort of (rubbish) storyline behind it. These ones are generally harder to do, but give better rewards.
The second type is called a task. Tasks are basic no nonsense quests, collect items, kill monsters, kill a boss and so on. They have no storyline behind them, and exist purely as a source of extra income/exp. All dungeons have 6 tasks (2 of each kind), and the bosses you have to kill for each task are unique to the task.
The quest log also looks much better, as seen below.

The next major update is with the general content of quests and dungeons themselves.
It should all be more fleshed out, more balanced and more fun to play.
Enemies (and bosses in particular) will be smarter, and more challenging to defeat.
Quests may provide more rewards than exp/money, such as access to new areas of a dungeon, or special ingame features.
The next thing to change is items and equipment.
All equipment will now have a minimum level requirement to be used (as people were previously abusing the no level restriction by giving their low level characters strong equipment).
Additionally, all items now have a "rarity" rating. Which is just a general indication of how rare it is.
Common items have a white name.
Uncommon items have a cyan name.
Rare items have a magenta name.
Epic items have an orange name.
Artifact items have a green name.
As seen below...

Item rarity obviously determines how rare it is, but it also determines roughly how powerful it is. Rare items are generally more powerful than Uncommon items of a similar level.
In addition to this, all store bought equipment (and some equipment gained from quests or dropped off of monsters) can be upgraded.
The upgrading process is simple enough. You take item, choose what to upgrade it too, then pay some money, and items to upgrade it.
To facilitate this, pretty much every enemy in the game will drop new items. Humans will drop stuff like metals or fabrics, animals will drop animal teeth, claws, horns and so on. Some will be rarer than others.
You can see the item upgrade window below.

As you probably noticed. All equipment will have multiple upgrade routes.
The most basic route is upgrading it to the next best of it's kind. IE, upgrading a Longsword to a Scimitar, there is nothing special about this, but it is cheaper than buying a new Scimitar from a shop.
The other route first involved reinforcing the weapon. A longsword becomes a reinforced longsword. Doing this opens up access to an entirely different selection of upgrades.
A reinforced longsword can be upgraded to an Orcish Sword (+str bonus), or a Military Sword (+bonus damage to human enemies).
An Orcish Sword can be further upgraded to a Warlords Sword (a high +str bonus).
A Military Sword can be upgraded to an Officers Sword (high +damage to humans) and then to a Heroes Sword (even higher damage to humans, and a small bonus to all stats).
The selection of 12 swords the shop sells can be upgraded to a total of 75 different weapons. (Only swords are finished at the moment, but other weapon types and armor will have similar routes they can be upgraded).
Those are pretty much all the planned stuff to be added at the moment, other than more of the game content finished (new skills for classes and so on).
I have no idea when these will be ready, but I expect sometime by the end of the month at the earliest.