Seems like so long ago that we received an update to ADW EX, but I think you’ll be very pleased after seeing the goodies that Ander has packed into this latest verison.
First off, he completely re-did the app drawers to improve memory usage and to make them more responsive. He has definitely succeeded as the fluidity of the drawers was instantly noticeable. He brought over “true” homescreen looping from ADW Launcher 2, reconfigured the theme management screen, added 3 new screen transitions, some cool zooming effects, drawer swiping between catalogs, and probably most importantly, started getting the app ready for Honeycomb.
Full changelog at the ADW site.