After a delay, it's finally out in the US - obviously it's unchanged from the Euro patch. Here's the changelist originally posted on TRMK:
Mortal Kombat Arcade Kollection v1.02 Visual Patch Notes
*New Video Display option "Stretch" that fills a HDTV..
*Audio issues still remain, but many have been improved. For example Scorpion's Voice on UMK3 can be heard when throwing the spear. Things like MK2's attract mode are still a problem.
*Online has player names on each side of the screen in the selection, loading screens and during games.
*Online is MUCH improved. So far only been able to play against European players due to it being released over there only so far and it is quite smooth despite the long distance. Immediately feels different, no more like you are playing in molasses. Here's a quick video showing how fast online is now:
*Unpausing the game no longer leaves you unable to move for a few seconds
*You can use Ultimate Kombat Kodes in UMK3 online now.
*The "Arcade" Filter has more even scanlines when in "Stretched" mode, but in other modes retains it's uneven scan line arrangement from previous release.
*The video "gamma" level was reduced resulting in a less washed out colors.
*Unfortunately they didn't put in version restrictions on the matchmaking, so if you get matched against a 1.02 player from Europe or a 1.01 player in the US right now you get a nasty black screen. This problem should go away once 1.02 is sent out worldwide.
I haven't been able to test online yet since I can't find a match, but everything I've been hearing says there's a noticable improvement. I also like the corrected gamma levels. That said, this game is still a mess of techincal issues, and despite the patch notes saying the unpause glitch is fixed, it most certainly is NOT.
I have a bad feeling this is as good as we're gonna get as far as updates since this is probably too little, too late to begin with...but I hope not. I should have learned a long time ago Ed Boon isn't really to be trusted ("arcade perfect" my ass). If they can hammer out the audio issues and unpause glitch, this will wind up being a decent package.