m2e 1.1 has been released as part of Eclipse Juno release this week. If you haven't heard about Eclipse Juno, you should take a look. Eclipse 4.2 IDE for Java Developers includes m2e by default. If you use Maven and Sonatype Nexus Repository, download Eclipse 4.2 today.
Noteworthy in this version:
m2e 1.1 is already included in "Eclipse IDE for Java Developers" package available from http://eclipse.org/downloads/ or it can be installed from the Eclipse Juno release repository. Eclipse 3.7/Indigo users can install the new version from the m2e release repository.