diff --git a/asdf.lisp b/asdf.lisp
index 4917fd829f1c52a8384309ef2d6210781056473e..e1c56210a4a650ad283ccb5e1d5751c075224477 100644
--- a/asdf.lisp
+++ b/asdf.lisp
@@ -63,15 +63,21 @@
         (remove "asdf" excl::*autoload-package-name-alist* :test 'equalp :key 'car))
   (let* ((asdf-version
           ;; the 1+ hair is to ensure that we don't do an inadvertent find and replace
-          (subseq "VERSION:1.702" (1+ (length "VERSION"))))
+          (subseq "VERSION:1.703" (1+ (length "VERSION"))))
          (existing-asdf (find-package :asdf))
          (versym '#:*asdf-version*)
-         (existing-version (and existing-asdf (find-symbol (string versym) existing-asdf)))
+         (existing-version (and existing-asdf
+                                (symbol-value
+                                 (find-symbol (string versym) existing-asdf))))
          (redefined-functions
           '(#:perform #:explain #:output-files #:operation-done-p
             #:perform-with-restarts #:component-relative-pathname
             #:system-source-file)))
     (unless (equal asdf-version existing-version)
+      (when existing-asdf
+        (format *error-output*
+                "~&Upgrading ASDF package ~@[from version ~A ~]to version ~A~%"
+                existing-version asdf-version))
       (labels ((rename-away (package)
                  (loop :with name = (package-name package)
                    :for i :from 1 :for new = (format nil "~A.~D" name i)
diff --git a/doc/asdf.texinfo b/doc/asdf.texinfo
index 119eaba64e2afd6fd4996199722dd352c5225886..7d7689ae5b72651a7cf046dbde274f4002b3282c 100644
--- a/doc/asdf.texinfo
+++ b/doc/asdf.texinfo
@@ -172,7 +172,7 @@ the ASDF internals and how to extend ASDF.
 @emph{Nota Bene}:
 We are preparing for a release of ASDF 2,
 which will have version 2.000 and later.
-Current releases, in the 1.600 series and beyond,
+Current releases, in the 1.700 series and beyond,
 should be considered as release candidates.
 We're still working on polishing the code and documentation.
 @ref{FAQ,,``What has changed between ASDF 1 and ASDF 2?''}.
@@ -241,7 +241,7 @@ If it returns the keyword @code{:OLD},
 then you're using an old version of ASDF (from before 1.635).
 If it returns @code{NIL} then ASDF is not installed.
 
-If you are running a version older than 1.678,
+If you are running a version older than 1.703,
 we recommend that you load a newer ASDF using the method below.
 
 
@@ -2499,7 +2499,7 @@ which will have version 2.000 and later.
 While the code and documentation are essentially complete
 we are still working on polishing them before release.
 
-Releases in the 1.600 series and beyond
+Releases in the 1.700 series and beyond
 should be considered as release candidates.
 For all practical purposes,
 ASDF 2 refers to releases later than 1.656,
@@ -2516,7 +2516,7 @@ If you are experiencing problems or limitations of any sort with ASDF 1,
 we recommend that you should upgrade to ASDF 2 or its latest release candidate.
 
 
-@subsection ASDF can portably name files inside systems and components
+@subsection ASDF can portably name files in subdirectories
 
 Common Lisp namestrings are not portable,
 except maybe for logical pathnamestrings,
@@ -2598,14 +2598,18 @@ similarly for @code{compile-system}, @code{test-system}.
 These issues and many others have been fixed,
 including the following:
 
-Dependencies were not correctly propagated
-across submodules within a system.
+The infamous TRAVERSE function has been revamped significantly,
+with many bugs squashed.
+In particular, dependencies were not correctly propagated
+across submodules within a system but now are.
+The :version and :feature features and
+the :force (system1 .. systemN) feature have been fixed.
 
 Many features used to not be portable,
 especially where pathnames were involved.
 
 The internal test suite used to massively fail
-in many implementations.
+on many implementations.
 
 Support was broken for some implementations (notably ABCL).
 
@@ -2626,7 +2630,7 @@ or take great pains to have the correct version of ASDF installed.
 With ASDF 2, we provide a new stable set of working features
 that everyone can rely on from now on.
 Use @code{#+asdf2} to detect presence of ASDF 2,
-@code{(asdf:version-satisfies (asdf:asdf-version) "1.678")}
+@code{(asdf:version-satisfies (asdf:asdf-version) "1.703")}
 to check the availability of a version no earlier than required.
 
 @subsection ASDF can be upgraded