There is a nice article describing the next version of the Netscape browser. From what I have read, it has some nice features. Most notably, it can render web-pages using either the IE or Firefox engines depending on what Netscape determines the security risk of the site being visited (low risk sites can be rendered using the IE engine, medium and high risk sites as Firefox). And, supposedly, Windows Update can even be run from the Netscape browser. I am not sure if there are any plans to develop an OSX version since the main benefit (of an IE replacement browser) is unnecessary.