diff --git a/docs/source/whatsnew/development.txt b/docs/source/whatsnew/development.txt
index c1ed4eb..a7ba607 100644
--- a/docs/source/whatsnew/development.txt
+++ b/docs/source/whatsnew/development.txt
@@ -20,14 +20,109 @@ New features
 
 * **Python 3 compatibility**: IPython can now be installed from a single
   codebase on Python 2 and Python 3. The installation process for Python 3
-  automatically runs 2to3.
+  automatically runs 2to3.  Python 3 no longer loads a separate 'python3'
+  profile by default. It uses the same 'default' profile as in Python 2.
 
 * **PyPy support**: The terminal interface to IPython now runs under
   `PyPy <http://pypy.org/>`_.
 
+* **Tabbed QtConsole**: The QtConsole now supports starting multiple kernels in
+  tabs, and has a menubar, so it looks and behaves more like a real application.
+  Keyboard enthusiasts can disable the menubar with ctrl-shift-M (:ghpull:`887`).
+
+* **SSH Tunnels**: In 0.11, the :mod:`IPython.parallel` Client could tunnel its
+  connections to the Controller via ssh. Now, the QtConsole :ref:`supports
+  <ssh_tunnels>` ssh tunneling, as do parallel engines.
+
+* **relaxed command-line parsing**: 0.11 was released with overly-strict
+  command-line parsing, preventing the ability to specify arguments with spaces,
+  e.g. ``ipython --pylab qt`` or ``ipython -c "print 'hi'"``. This has
+  been fixed, by using argparse. The new parsing is a strict superset of 0.11, so
+  any commands in 0.11 should still work in 0.12.
+
+* **HistoryAccessor**: The :class:`~IPython.core.history.HistoryManager` class for
+  interacting with your IPython SQLite history database has been split, adding
+  a parent :class:`~IPython.core.history.HistoryAccessor` class, so that users can
+  write code to access and search their IPython history without being in an IPython
+  session (:ghpull:`824`).
+
+* **kernel %gui and %pylab**: The ``%gui`` and ``%pylab`` magics have been restored
+  to the IPython kernel (e.g. in the qtconsole or notebook). This allows activation
+  of pylab-mode, or eventloop integration after starting the kernel, which was
+  unavailable in 0.11.  Unlike in the terminal, this can be set only once, and
+  cannot be changed.
+
+* **%config**: A new ``%config`` magic has been added, giving easy access to the
+  IPython configuration system at runtime (:ghpull:`923`).
+
+* **Standalone Kernel**: ``ipython kernel`` subcommand has been added, to allow
+  starting a standalone kernel, that can be used with various frontends.
+
+* **Multiline History**: Multiline readline history has been restored to the
+  Terminal frontend by default (:ghpull:`838`).
+
+
+
+Major Bugs fixed
+----------------
+
+* Simple configuration errors should no longer crash IPython. In 0.11, errors in
+  config files, as well as invalid trait values, could crash IPython. Now, such
+  errors are reported, and help is displayed.
+
+* Certain SyntaxErrors no longer crash IPython (e.g. just typing keywords, such as
+  ``return``, ``break``, etc.). See :ghissue:`704`.
+
+* IPython path utils, such as :func:`~IPython.utils.path.get_ipython_dir` now check
+  for write permissions, so IPython should function on systems where the default
+  path resolution might point to a read-only location, such as ``HOMESHARE`` on
+  Windows (:ghissue:`669`).
+
+* :func:`raw_input` now works in the kernel when multiple frontends are in use. The
+  request will be sent to the frontend that made the request, and an exception is
+  raised if that frontend does not support stdin requests (e.g. the notebook)
+  (:ghissue:`673`).
+
+* :mod:`zmq` version detection no longer uses simple lexicographical comparison to
+  check minimum version, which prevents 0.11 from working with pyzmq-2.1.10
+  (:ghpull:`758`).
+
+* A bug in PySide < 1.0.7 caused crashes on OSX when tooltips were shown
+  (:ghissue:`711`). these tooltips are now disabled on old PySide (:ghpull:`963`).
+
 .. * use bullet list
 
 Backwards incompatible changes
 ------------------------------
 
+* IPython connection information is no longer specified via ip/port directly,
+  rather via json connection files.  These files are stored in the security
+  directory, and enable us to turn on HMAC message authentication by default,
+  significantly improving the security of kernels.  Various utility functions
+  have been added to :mod:`IPython.lib.kernel`, for easier connecting to existing
+  kernels.
+
+* :class:`~IPython.zmq.kernelmanager.KernelManager` now has one ip, and several port
+  traits, rather than several ip/port pair ``_addr`` traits. This better matches the
+  rest of the code, where the ip cannot not be set separately for each channel.
+
+* The class inheritance of the Launchers in :mod:`IPython.parallel.apps.launcher`
+  used by ipcluster has changed, so that trait names are more consistent across
+  batch systems. This may require a few renames in your config files, if you
+  customized the command-line args for launching controllers and engines. The
+  configurable names have also been changed to be clearer that they point to class
+  names, and can now be specified by name only, rather than requiring the full
+  import path of each class, e.g.::
+
+    IPClusterEngines.engine_launcher = 'IPython.parallel.apps.launcher.MPIExecEngineSetLauncher'
+    IPClusterStart.controller_launcher = 'IPython.parallel.apps.launcher.SSHControllerLauncher'
+
+  would now be specified as::
+
+    IPClusterEngines.engine_launcher_class = 'MPIExec'
+    IPClusterStart.controller_launcher_class = 'SSH'
+
+  The full path will still work, and is necessary for using custom launchers not in
+  IPython's launcher module.
+
 .. * use bullet list