Peter Bigot, maintainer of mspgcc, has upped the version of the compiler.

The primary purpose of this release was a thorough review of all
peephole optimizations.  Most were removed as there was no evidence
that they still applied.

Conditional branches were completely reworked to more
accurately model condition codes.

Correct modelling of condition codes also eliminated some volatile
operations that had been required to ensure correctness for certain
bit shift operations, allowing gcc to do a better job optimizing them
as well

Summary of changes in mspgcc release 20120119 since release 20111224:
gcc: changes from 20111224 to 20120119:
– Update DEV-PHASE for release
– Add msp430 target support to GCC
– Revert “Add msp430 target support to GCC”
– Update for release
– Reuse existing function to
determine length of constant
– length for tablejump
– Swap args when dest is indirect register
– Disable early-clobber constraints on multi-word operations
– Update for release
– Fix length for non-standard out-of-range branches
– Update length adjustment for conditional jump, return, and basic operands
– Correct setcc insn length; fix bit carry mode error
– Use local labels instead of byte offsets
– Permit comparisons on stack pointer and pseudo registers
– Restore SF 3296698 peephole optimization
– Another attempt to make bittest for bit extraction non-volatile
– b440bae Update CC status based on attribute effects
–  Review and update all cc attr values
– Avoid comparison change on symbol_ref operands
– Replace cbranch infrastructure
– Restore peephole optimization for andm2
– Cull peepholes and sequelae
– Regenerate

binutils: changes from 20111205 to 20120119:
– Correct version infrastructure to also modify release version string
– SF 3472485 need visible version info in tool output

gdb: no changes

msp430-libc: changes from 20111224 to 20120119:
–  Regenerate
–  Update version number and release notes
–  Add a warning about libfp.a
being untrusted

msp430mcu: no changes

Via the mspgcc mailing list