Just like before, the ICS ROM is for the Sony Xperia Ray, Xperia Arc S, and Xperia Neo V handsets. And, just like last time, Sony wants user feedback either via a survey or through comments in the xda forum thread. Obviously, this is not stock ICS, so you'll have to deal with Sony's skin, but that should have been expected. Still, Sony says that it has updated the UI in this build and has "added a number of UI elements from ICS." The build also adds a camera option on the lockscreen as well as Face Unlock. Possibly best of all is that the GSM modem and FM radio have passed re-certification, and have been turned on in this build.
If you want to give it a try, jut head over to Sony's website for instructions and files.