I see on launchpad that there is release 0.4 loki. Is this avaliable for download?
If so, is it the same installation (i.e. with an iso) or is it a more technical process?
Yes, elementary OS Loki has been released.
First, download Ubuntu 16.04 from http://cdimage.ubuntu.com/daily-live/current/ and install it. Then in Ubuntu 16.04 terminal run the following commands:
sudo add-apt-repository ppa:elementary-os/daily sudo add-apt-repository ppa:elementary-os/os-patches sudo apt-get update && sudo apt-get dist-upgrade sudo apt-get install elementary-theme elementary-icon-theme elementary-default-settings elementary-desktop
Then you should be able to select the new desktop environment in the Unity greeter.
Maybe someone can make an ISO from this.
NOTE : This is unofficial and not supported by elementary
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