The program supports the following types of files:

Graphic: PNG, JPG, JPEG, BMP, GIF, ICO, TIF, TIFF, TGA, PCX, CBZ, CBR
Audio: M4A, FLAC, AAC, STRM, RM, MPA, WAV, WMA, Ogg, MP3, MP2, MOD, AMF, 669, DMF, DSM, FAR, GDM, IMF, IT, M15, MED, OKT, S3M, STM, SFX, ULT, UNI, XM, SID, AC3, DTS, AIF, APE, MAC, MPC, MP, MPP, SHN, WV
Video: NSV, TS, TY, STRM, RM, RMVB, IFO, MOV, QT, DivX, Xvid, BivX, VOB, PVA, WMV, ASF, ASX, OGM, M2V, AVI, DAT, MPG, MPEG, MP4, MKV, AVC, VP3, SVQ3, NUV, VIV, DV, FLI, 001, FLC
Playlists: PLS, M3U, WPL
Disk images: CUE, NRG, IMG, ISO, BIN

What's new:

12.2
Fixed infinite loop on addon dependencies, resolves crashing problem that arrose immediately post 12.1 launch
Numerous UPnP fixes
Memory leak fixed when XBMC is minimized
Various Raspberry Pi playback fixes and software codec support
Fixed OSX audio mixing
Fixed some audio-related crashes in Linux builds
AirPlay fixes
Bluray folder resume-bookmarks now work
Ability to scan for new content on file folders has been reimplemented
Language updates from Transifex
12.1
XBMC now supports using OSX’s default output device for audio as well as hardware decoding with Intel GPUs in OSX
XBMC no longer hogs audio for Linux and on resume audio will continue to work in Linux
Full iPhone 5 resolution is now enabled
Volume buttons on Android devices now control Android volume, rather than XBMC volume
Volume buttons on OSX devices once again control OSX volume, rather than XBMC volume
Player optimization on the Raspberry Pi, including more efficient playback, better subtitle support, and many crash fixes
iOS 6 support on the AppleTV 2.
XBMC does not crash when listed on the AppleTV top shelf
Added support for additional Xbox 360 controller types
Broader and more intelligent support for CEC devices
Fixed problems with several addons due to broken binary read/write in our python interface
Language fixes, including 7 new languages: Albanian, Burmese, Malay, Persian (Iran), Tamil (India), Uzbek, Vietnamese
AirPlay fixes, including making discovery of XBMC more reliable on OSX
Numerous crashing and stability fixes across all platforms
Live TV and PVR (Personal Video Recorder):
Added unified Live TV and PVR frontend with a common EPG and DVR (Digital Video Recording) client GUI
Added unified PVR backend framework and API for multiple PVR backend software from third-parties
Added support to integrate PVR Addon's recorded TV Show Episodes and Movies with XBMC's Video Library
Extended JSON-RPC and embedded Web Server API with PVR support to enable Web EPG in a web interface
PVR backend clients addons availabe for many popular third-party PVR backend software:
PVR Demo Client dummy addon with fake backend from Team-XBMC for skinners and regression testing
Argus TV / ForTheRecord PVR Addon backend client maintained and available from XBMC's community
DVBViewer PVR Addon backend client maintained and available from XBMC's community
NextPVR (former GB-PVR) PVR Addon backend client maintained and available from XBMC's community
Njoy Digital (N7) PVR Addon backend client maintained and available from XBMC's community
MediaPortal PVR Addon backend client maintained and available from XBMC's community
MythTV PVR Addon backend client maintained and available from the XBMC's community
Tvheadend PVR Addon backend client maintained and available from XBMC's community
VDR (Video Disk Recorder) PVR Addon backend client maintained and available from XBMC's community
Vu+ / Enigma2 / Dreambox PVR Addon backend client maintained and available from XBMC's community
Add-ons Framework, API, and Manager:
Added addon API for homebrew DIY RGB LED Ambilight clone client software such as Boblight[1][2]
Added ability to extend XBMC's native Python API by writing C++ code generated via Groovy and SWIG
Added support for screensavers written in Python.
GUI Engine:
Enabled Dirty Regions rendering to redraw screen on single dirty region by default on all platforms[3][4]
Added ability to run a split display resolution for GUI and video playback on embedded platforms[5]
Extended XBMC's GUI for PVR and EPG
Improved touch and gesture support for all platforms
Improved mouse support, add better control for dragging of scroll bars, and click handling
Improvements to art handling, allowing Skinners to display multiple art types for each item, such as banners and posters for tv shows.
Improved texture caching for GUI speedup
Platform Independent Playback:
Added software decoding of 10-bit depth H.264 profile (Hi10P) videos (requires around a core2duo or equivalent and up)
Added HLS (HTTP Live Streaming) and M3U8 (Extended M3U) playlist support
Added support for color and font style tags in MPL2 (MicroDVD) subtitles
Added support for direct playback of ISO image files for Blu-ray Disc media
Added Bluray HDMV menu support (but not BD-J / BD-Live menus)[6]
Improved Bluray playback support of unencrypted bdmv and mpls files without menus
Improved deinterlacing "Weave" method for playback of interlaced video when upscaling
Upgraded FFmpeg's libavcodec and libavformat audio/video codec and demuxer libraries
Improved support for forced subtitles
Added option to set a default preference for subtitles and audio tracks based on language.
Library:
Library customization that allows for custom video nodes
Added Advanced Library Filtering for Movies, TV Shows, Music Videos, and Music views
Improved Smart Playlists
Added custom video library tags for Movies, TV Shows and Music Videos
Added support for both banner and poster video art types simultaneously[7]
Improved performance for SQL database queries for faster browsing
Added support for exporting video art as JPG or PNG rather than TBN file extension
Switched to TagLib for reading metadata embedded into audio files
Movie sets can now only be used one set per movie. See here for more info.
Scrapers:
Improved TheMovieDB.org movie scraper by automatically scraping movie sets.
Improved TheTVDB.com (Multi-Lingual) TV Shows and Episode scraper to obtain both posters and banners for shows and seasons.
Skins:
Confluence: PVR front-end with Live TV and EPG specific windows, plus PVR stuff in OSD and GUI settings
Touched: Improved the default touch screen skin for iPad, iPhone, iPod touch, and Android touch devices.
AudioEngine:
Added unified "AudioEngine" audio abstraction framework with an API and platform sinks
Other:
Improved CEC (Consumer Electronics Control) support for Pulse-Eight's LibCEC
Improved AirPlay / AirTunes target support
Improved the Audio-CD ripper that now works as a background task job
Improved international language file translations system that are powered by Transifex[8]
Added a Test Suite based on Google C++ Testing Framework to make regression testing easier
Added rich metadata support to XBMC's UPnP Media Server for UPnP/DLNA clients
Upgraded Plutinosoft's Platinum (libplatinum) UPnP and DNLA libraries
Improved performance of the default Web Interface (complete rewrite of Java loading)
Added WebSocket support for JSON-RPC and to Addons API[9]
Added basic support for PVR / EPG extensions and notifications over the JSON-RPC API
Added SmartPlaylist Extensions and Extended Filtering in JSON-RPC[10]
Removed the old HTTP API in favour of the new JSON-RPC API
Improved keymap XML files for various controls, including the Xbox 360 Controller for PC (out-of-the-box support for both Windows and Ubuntu).