Federico Carnales has announced the release of an update to LauncherPro, his popular homescreen replacement for Android. Version 0.8.6 adds new features including icon pack support, real home screen looping (as opposed to the virtual looping included in earlier versions), and the ability to hide icon background labels. There's also the usual mix of performance improvements and bug fixes, as you'd expect.

The new version is available now from the Android Market (links and QR code after the jump), or as a direct download from the source link below.