As soon as its released you will get it on ngemu site itself.Its still in beta stage and its not sure it will be version no. 1.5 or what.
A lot of discussion is already taking place about what new features it will have in some of the other threads.
In the mean time have patience and enjoy epsxe 1.4 version.
The Christmas present form the ePSXe team, YEAH! But Christmas when, 2001, 2002, 2003, or...........J/K Get what I mean?
The truth is, no one knows for sure when it will be released, not even the beta testers. They are working on it as fast as they can, so everyone will just have to be patient for the new release.
As for the version number, that is unknown also. I would think that it all depends on how far the emulator has progressed as to what version they decide to call it.