I'll try to answer your questions, since you're the first person who has posted to the list. But other questions of this type should (hopefully) become clear when b1 is released.
As you imply in your question, b1 is a starting point. There will be future versions with new features (we're already working on b2). We plan to release new beta versions at regular intervals.
1. Xway b1 doesn't have HTML import. We may add this in a future version, but there are other features that we are planning to add first.
2. Xway does have unlimited (multiple) undo.
Xway includes a detailed reference manual, which is available from the Help menu, and we recommend that people read (or skim) the Introduction. This describes some of the ways in which Xway is different from Freeway and lists some of the features that haven't been implemented yet.
We have also created a couple of sample documents that are similar to Freeway's Ambient template, and there is a step-by-step tutorial which shows how to create these documents from scratch.