Driven by user feedback, rcov 0.3.0 introduces a number of features that simplify the analysis of Rails applications. Moreover, this is the first time a rcovrt binary for win32 (which makes rcov >100 times faster) is released simultaneously.
The new code coverage analysis mode, --test-unit-only, records exclusively code executed inside Test::Unit::TestCase(s). This allows you to see how much of your code was directly unit-tested, and how much was executed indirectly (e.g. run in the initialization phase or executed by the framework outside the tests). Also, this makes rcov 10-20% faster when analyzing a Rails application like Typo (on my old box, rcov runs its unit tests in 13.5s in normal mode compared to ~11s with --test-unit-only). Not quite as spectacular as the >10000% speed increase from 0.1.0 to 0.2.0 though.
Another important addition is the ability to detect aliased source files: this was very needed to analyze Rails apps, where a file could get loaded under several different names, due to the extensive usage of #require with relative paths.