After a lengthy development hiatus, I've added a significant release to the waterwheel carousel. What was originally slated for a 1.4 release has been bumped to a 2.0 release. The release includes lots of bug fixes and features, most important of which is full "circular" support. Take a look at the changelog on github to see a list of the changes.
Now that the waterwheel carousel has full circular support, there's only a few missing features that it lacks from the feature carousel. I plan on adding most of those "missing features", including caption support and numeric position indicators, in version 2.1. After that, I will likely put up a notice announcing the deprecation of the feature carousel. That means I won't be putting any additional time towards it, as it makes sense to focus one.
I've also refreshed the site a bit. I thought it could use a new look, and I've grown pretty fond of twitter bootstrap in the past year. Still rolling on Drupal (though I almost decided to convert it to rails), using the great bootstrap theme.