Heres some quick instructions on how to apply my first patch. Note: i would recommend that you DO NOT use this is a production environment. It's still a bit quirky in some areas, and could break some important functionality.
1) Download TortoiseSVN - http://tortoisesvn.tigris.org/
2) Create a new folder where you wish to install SilverStripe
3) Right click on it, then click SVN Checkout
4) Change the repository URL to http://svn.silverstripe.com/open/phpinstaller/trunk - and then change the radio revision box to select "Revision" rather than "Head Revision", and enter 55074 in the little text box. Click OK.
5) When this is done, right click again on the folder and select TortoiseSVN > Apply Patch, and navigate to your downloaded copy of the patch from my site (theres a download link beneath all the highlighted code)
6) Install Silverstripe like normal
As for releasing the new version: Ill release it when its ready ;)