The first beta of the next generation of the uTorrent client is available and contains some useful upgrades that address how torrenting has changed in the past few years.
A transfer cap feature has been added, which will allow users who have cap-limited bandwidth to throttle down their torrenting habits and stay away from overage charges or having their service shut off. The feature offers graphs and can show your upload and download usage by megabyte. Most importantly, you'll be able to set it to shut down uTorrent once your limit has been hit. It's also configurable, so you can set it to turn off uTorrent by either upload limit, download limit, or both.
uTorrent also supports UDP trackers, which are a new kind of protocol for tracker communication that uses noticeably less processing power. As more trackers use UDP, it will allow them to continue to function on lower-end machines, which should result in faster transfers as the client itself won't be slowing down the torrent.
Another back-end change for version 2 is support for uTP, an alternative communication method for torrent traffic that allows the client to automatically regulate bandwidth usage so that your local network isn't adversely affected. Unlike the bandwidth cap, which is a cutoff point, uTP will make sure that other locally-running programs can still use your Internet connection without taking forever to resolve sites.
The full list of changes can be read here.