I own version 4.0.4 and have basically left it unused since Leopard, waiting for an update. During this long wait, I've changed my strategy to using Time Machine and SuperDuper (TM/SD) as a backup duo. SD for bootable external drive (weekly schedule) and TM for hourly backups (which works quite well - I've even performed full restores on two Macs).
However, having seen this page (a new version), I fired up Tri-Backup and it immediately told me there was an update. When I went to the download site, the note there indicated that this was a beta! I don't know whether it really is or not, considering I don't see that mentioned here (unless I overlooked something).
The previous poster mentions $69 for the upgrade - so I checked around their web site and found a statement that major upgrades (e.g. 2 to 3) requires a new purchase.
Oh well, I'll skip the $69; I'm pleased with the TM/SD combination. Besides, while Tri-Backup worked well for me in the past, its interface took me quite some time to understand, when I first got it several years ago. I don't know whether it has improved or not. For anyone interested in buying it for the first time, I'd suggest you try the trial version first.
Tri-BACKUP
Automatic backup and synchronization utility.
Version: 5.2.3