STARBOUND v0.4 is back with both of my editors (Sheila Gilbert at DAW and Michael Rowley at Ebury/Del Rey UK). I think we've reached the end, and each little iteration has added something to the book. Next should be proofing and makeup/setting, followed by my final copy edits of the finished proofs. And then it will be off to production for its January 5, 2016 launch! I find myself a bit whimsical about the release date. My birthday is three weeks later on Tuesday the 26th, so it would have been nice to match up with that. Maybe someday.
Just a little side note on how I define my drafts. Version 0.1 (v0.1) is my first draft, which is usually about 75-80% of the final copy. Then I make an editorial pass. This usually results in an additional 3k to 5k more total words, but about 10k words may be changed overall through deletions and rewrites.
The finished Version 0.2 is the first version I send off to my editors and agent for feedback and comments. When I get these back I incorporate changes, usually involving expanding or deleting plot points, tightening the prose, or deepening character development.
These changes usually add another 5k to the total wordage, with anywhere from 10k-15k in total changes. The resultant Version 0.3 then goes back to the aforementioned professionals, who give me their final feedback. These changes become Version 0.4 and usually result in 1,500-3k in final changes. For STARBOUND the biggest change was adding in a final battle scene, about 1,500 words worth, plus some minor final tweeking in other places.
At this point we are at Version 0.4. I would expect no further plot or character changes requested from here on, but it's always possible. When I get my final proof copy and send that back to the production people, that in my mind becomes Version 1.0, or the Final Draft. What's published should be 99.9% of that, or more.