Updated packages in this release include Linux kernel 3.2.6, GCC 4.6.2, udev 181, e2fsprogs 1.42, zlib 1.2.6, Binutils 2.22, Coreutils 8.15 and Automake 1.11.3. Readers interested in following the book and building their own custom Linux distro can do so by viewing the latest version online or they can download the entire 345-page book in PDF or HTML formats.
Linux From Scratch (LFS) is a project that provides you with the steps necessary to build your own custom Linux system. There are a lot of reasons why somebody would want to install an LFS system. The question most people raise is "why go through all the hassle of manually installing a Linux system from scratch when you can just download an existing distribution like Debian or Redhat".
The most important reason for LFS's existence is teaching people how a Linux system works internally. Building an LFS system teaches you about all that makes Linux tick, how things work together, and depend on each other. And most importantly, how to customize it to your own taste and needs.
Source: Distrowatch.org