Today, Dec. 12, 2012, just some minutes ago, TI released the new TI-Nspire OS 3.2.3.1233.
This seems to be a very minor update.

Indeed, on the one hand the 3.1.0.392 version is still installable and as a consequence Ndless is not completely blocked yet, and secondly the Arabic language, the next great TI-Nspire OS innovation is not yet available.
There is no significant increase in the size of the OS files either.
Finally, the previous version being 3.2.0.1219, there have been only 14 recompilations of the OS since June 2012, which would be extremely low.

Indeed, the official changelog confirms:

• Additional iterations were added to solve specific logistic regressions
• Fixed bug: Changes to the initial term of a sequence are not stored in the document
• The performance of the program when using the DISP command has been improved

That's it.

There is no new boot2 update with these 3.2.3 OSes.
OS for TI-Nspire ClickPad / TouchPad still comes with Boot2 3.0.1 and OSes for TI-Nspire CX with boot2 3.1.0.



Source:
http://tiplanet.org/forum/viewtopic.php?p=133514&lang=en

Links:
OS 3.2.3.1233 for TI-Nspire CX CAS
OS 3.2.3.1233 for TI-Nspire CX
OS 3.2.3.1233 for TI-Nspire CAS
OS 3.2.3.1233 for TI-Nspire

The TI-Nspire softwares and TI-Nspire CM are staying with version 3.2.0 for now.

Darn the change log doesn't show up, ill have to go find it

404 for me But really, that's it? No new functions/operations? Well at least they (partially) fixed the disp command I kinda miss the old days though, where each OS update brought lots of or at least some new things.

The problem though is that when OS updates brought lots of at least some new things, they also came with a new nasty anti-downgrade protection.

Glad it still fits in the Clickpad/Touchpad Nspire memory

I worry about the Arabic language, though: Is it very large? I hope it can be uninstalled if it's included with new OSes in the future (even if using community tools), to save space.

The Arabic Language will probably take away a few megabytes of free space at most, the Chinese language when they added it in OS 2.1 was similar. I hope they are not planning something dramatic again with OS 3.3 or even 4.0

EDIT: And yes I'm back.

Well I guess there are 3 possibilities:
1. TI wins the battle, ndless will be blocked forever.
2. TI loses the game, nspire production/support will be dropped.\
3. TI comes to its senses and starts to cooperate with us to create the ultimate user experience .

Glad it still fits in the Clickpad/Touchpad Nspire memory

I worry about the Arabic language, though: Is it very large? I hope it can be uninstalled if it's included with new OSes in the future (even if using community tools), to save space.

I know exactly what and where to delete it, but this won't save much space and will not prevent the OS not to install. Fonts are part of the phoenix core (RSA-2048 checked).
As I said, I know where it is ... in the RAM, so any modification in such way won't change anything, sadly.
(+ Ndless 3.3).

is it planned that the lua print() function will be back with serial printing?

It was asked.