The CVS version currently is way ahead of the release version in feature richness. Apologies, but this is because features are being added for consulting projects and we do not have time to do a release and all the accompanying documentation etc.
Reprojection is supported via the PROJ4 library. The SQL function name is transform(<geom>,<srid>). Now you have a reason to populate that SPATIAL_REF_SYS table like you've always wanted. Note however that the SPATIAL_REF_SYS table now requires a PROJ4TEXT column containing the PROJ4 definition string of the spatial reference system.