Yes. This is one of the major and stable release in the recent times since 2.0 got released around 5 years back.
What’s new we can expect: For users who are using WebDriver API’s this is gonna be just a drop in effortless replacement. But those who are using Selenium Grid may have to go through some minimal configuration changes.
In this version, they have removed the original Selenium Core implementation and replaced it with one backed by WebDriver. For people who are still using Selenium RC should have to undergo some maintenance because of this. This is the right time to migrate the code to WebDriver API’s.
Right from Selenium 3.0, all the major browser vendors are responsible for shipping their own implementation of WebDrivers for their browsers.
Starting with Safari-10, Apple started providing native support for WebDriver API’s. More details here – WebDriver Support in Safari 10
Google already started providing support for WebDriver API’s for Google Chrome using their ChromeDriver.
Even Microsoft when they came up with a new browser “EDGE” for Windows-10, they also came out with support for the WebDriver API’s – Microsoft WebDriver
Mozilla is doing major changes in the internals of Firefox browser to make it more stable and secure. So if you are using Firefox for your testing, you’ll need to use the GeckoDriver, which is an executable similar to the ChromeDriver. But Gecko is still in Alpha and you may have to face lot of issues with your automation w.r.t. Firefox.
The W3C specification for browser automation, based on Open Source WebDriver is still In-Progress and this is gonna reach “recommendation” status.
What you are waiting for? Just go and download the latest from Seleniumhq Downloads