Though it started its life strictly doing color, Resolve has become so much more over the last few years, and in version 12, it's now a full-fledged non-linear editor. One of the first big changes you'll notice is that the free version is no longer referred to as Lite. Instead, the non-paid and paid versions are now known as DaVinci Resolve 12 and DaVinci Resolve 12 Studio, respectively.

They are essentially still the same products, and the free version still has the same limitations. With the nearly $1,000 Resolve 12 Studio (which is a free upgrade for previous owners of Resolve), you'll get support for multiple GPUs, 4K output, motion blur effects, temporal and spatial noise reduction, 3D tools, and remote and multi user collaboration tools. It's also worth noting that the full version of Resolve comes free with Blackmagic's higher-end digital cinema cameras, so if you've bought a BMCC 2.5K, BMPC4K, or URSA, you're good to go with Resolve 12 Studio. 

Here's a new video Blackmagic posted today with the release of the Beta:

We also talked with Blackmagic at NAB 2015 to get a quick overview of some of the exciting new features:

Just some of what's new in 12:

New Editing Tools

  • Slick New Interface that's Cleaner, Easier on the Eyes
  • Multicam Editing with a Host of Sync Options
  • Improved Trimming including Advanced Simultaneous Multi-Track Trimming
  • Nesting Timelines for Working on Large Projects with Multiple Complex Timelines
  • On-Screen Controls for Manipulating and Animating Motion paths of Graphics
  • Highly Customizable Transitions Using Curves Editor with Bezier Handles
  • Real Time Audio Mixing by Recording Fader Moves
  • VST and Audio Unit Plugins for Full Control of Audio
  • Export to Avid Pro Tools for Professional Audio Mix
  • Improved Media Management and Bins

New Color Correction Tools

  • Enhanced 3D Tracker 
  • Brand New 3D Keyer for Color Correction and Compositing

You can download the Public Betas for both Resolve 12 and Resolve 12 Studio here. Resolve 12 is compatible with Mac and PC while Resolve 12 Studio works on Mac, PC, and Linux. Resolve 11 came out of Beta a little over a month after it was released, so if you're not a fan of using Beta software, you won't have to wait long before the full release version is out (though Blackmagic's Betas are usually pretty far along in terms of being stable).

DaVinci Resolve 12 Manual

DaVinci Resolve 12 Configuration Guide

Source: Blackmagic

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Editing & Post-Production