The Cycle 3 call has just opened. The announcement webpage provides full description and supporting documentation.
The main improvement is clearly the significant increase in configuration extension, allowing for spatial resolutions as fine as tens of milli-arcseconds. The observable spectrum ranges from ~3mm to 0.35mm. Large projects (>100h) are still not possible.
The proposal submission deadline is 15h UT on 23rd April. Cycle 3 observations are expected to start in October 2015.
Should you have any question regarding proposal preparation or any other issue regarding this call, do not hesitate to contact PACE.