We've just released Android Studio 1.0.1 to the canary and dev channels; it should roll out to beta and stable within a day or so. This is just a bug fix release which the following fixes:
82159: AVD Manager locks exported device.xml file
81779: emulator log on Studio doesn't work on Windows
81023: Creating virtual device from Android Studio installed on C drive with Android SDK on D drive fails
82404: Update the recommended SDK tools version to 24.0.1.
82405: Make the default Update channel in the 1.0.x releases "Stable" rather than "Beta"
82071: "How do I create a custom hardware skin?" doesn't point to anything
You can manually check for updates via Help > Check for Update... (on OSX, look in the Android Studio menu). This will download and install a small patch rather than download a full IDE image. If you are using an older version, you'll need to download a full install from the downloads page.
NOTE: 1.0.1 is currently only available in the canary and channels, and Android Studio will by default look in the Beta or Stable channels, so if you want to update, open the preference dialog, go to the Updates category and change the channel setting.
If you run into problems, be sure to check the Known Issues page which we'll update as necessary
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