It's not that bad, you can format drives to FAT32 if windows won't let you by using this program:
http://www.ridgecrop.demon.co.uk/index.htm?guiformat.htm

The Fat32 option is a major issue. Not so much for memory sticks, but if you want to use a decent sized hard drive with large files it is a real pain having to use FAT32. I hope they sort this. FAT32 is a backwards step, all my external drives are NTFS and reformatting with all the work that entails is a non starter. Back up files for my computers are generally above the Fat32 size limit.

So a great update potentially, but severely limited without NTFS.

Agreed.

Why is it taking them soooo long to include this support?

Maybe it's not planned!

Then I would say this is very close to false advertising.

Currently and for a long time now, all that is supported is FAT32 in a Beta firmware release.

They've never advertised NTFS !