Just before Google I/O 2012 started, the team behind CyanogenMod released version 9.0-RC1. The team stated that the job wasn't easy, but they're very proud of the results, and what it represents for the group.
Making the jump from version 2.3.7 to 4.0.4 was a fresh start for this project. The team states that the code has changed, the structure and organization of CM as a whole has changed, too, according to their blog.
This first release candidate is said to be the first of many, with the 'core' OS stabilized, the team's device maintainers will continue to work on their device trees to bring up more devices, which includes some of the newer releases as well as some from the older generations. CyanogenMod's issue tracker is now open for CM9 RC1, which can be had here.
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