Tonight I "upgaded" to MT4 beta 2 from MT 3.35. So far, the administration/backend is lovely. I can't quite yet figure out how to change my picture, but I'm pretty sure I came across something that said that's not yet implemented. But as I, like a lot of others, don't simply use the basic MT templates, I ran into a rather huge issue. Ever since I started using MT back in version 2.661, I've been a fan of the the <MTIfEntryMore> tag as I hate the never-ending blogroll pages. However, when I went to rebuild my templates with MT4b2 tongiht, I was told that <MTIfEntryMore> no longer exists!

So I tried to run over to http://www.movabletype.org (MTs development site) to see if they said anything about this tag becoming obsolete as I figured a bunch of people use that tag and it'd be on their blog. To my disappointment, it was not. So I googled it - to no avail. For all the hype on MT's dev blog about the community rising up with the beta release, I was surprised not to find more blogs about this.
So until I find a way around this, I've taken out the check to see if I've used the Extended Entry and simply add a read more link to every entry! Not the best way, but at least it works for the time being.
So if anyone has an answer to my issue or running into the same problems, let me know!