In a recent tweet by Jens Bergensten, Mojang AB’s back-end developer, he mentioned that Minecraft Beta 1.4 would be released next week, if everything goes to plan (the tweet of which you can read above). The update aims to bring beds as respawn points, so if you sleep in a bed successfully for one night without being woken up, it becomes your spawn point until you sleep in another bed, or if you destroy the bed you previously slept in. The new respawn feature also works in SMP (Survival Multiplayer) , and wolves will also be added. With wolves, you can direct them to attack targets, and they also follow you as companions.
Via: Jens on Twitter