All,
This is meaningful update to our earlier posts (1, 2). As expected, as we went deeper into the details there were quite a few small tweaks and changes to be made.
The general ideas are still the same. These are mostly finer implementation details but as spec goes - this is where people should look at.
Thanks @assafmo, @reuven, @toml and others for helping in finding solutions through our internal discussions. We welcome any outside feedback and issues that are raised.