A link if you haven't tried yet:
MorphOS feature listAs to me: my story has two sides. I had two dreams for the future: a realistic one, where AmigaOS gets some new hardware, with some minor advance in features (like OS3.5 and 3.9). I had a less realistic one as well though - I have dreamt of an AmigaOS being comptetitive with the state of the art OSes out there.
When I saw MorphOS 0.4 beta back in in 2000 august, I thought MorphOS will be the first. AmigaOS ported to PPC then that's it. I'd readily accept it even if I get nothing extra.
Then, (it's a real long story) getting my Pegasos in 2003 march, and MorphOS 1.2... I was gasping for breath.
MorphOS is not feature complete yet, but besides maintaining the responsiveness and incredible sides of AmigaOS sports state of the art features (I always envieed the RGBA icons of OSX/XP/Linux) and when it will be feature complete it will enable us to get rid of the drawbacks of the AmigaOS design.
There is still a lot to do to, but as they had to write everything from scratch, they rethinked the whole design, got rid of many nasty limitations (the 256 color pen system, etc.) and made it into something which doesn't looks/feels/performs like an OS from a decade ago.
Well, it's now called MorphOS, and I cannot call it AmigaOS. But I care little about that...