1.0 Release 3
This updated launcher allows you to customize the JVM command line to tune memory settings and other things that can only be set before startup. The defaults have also been tweaked a bit. This is the only part that requires you to update the launcher.
There is also a toggle to garbage collect on wipe (enabled by default) which should also help with memory issues. Finally, the "Dump Heap" button will perform a heap dump, which you can attach when reporting issues regarding memory usage:
If you have not had memory issues, you probably don't need to download this. The updater will continue to work normally. I also put in some memory-related fixes and optimizations, so those issues may be fixed anyway.