Space Engineers server has been updated to the new patch. The big thing on this update are Factions. For more details on how they work, check out the video.
Patch Notes:
Features
- factions
- ownership of blocks
- hacking/take-over of hostile objects
- block sharing
- looting dead engineer
- copy/paste: rotate object before pasting
Fixes
- fixed mirroring planes not visible
- fixed extreme lag issues in some worlds
- fixed issue with having access to control panel from passenger seat
- fixed wrong highlight on door model
- fixed missing dialog box in main menu and pause screen
- fixed dedicated server issue: clean exit with save not working
- fixed issue with NPC ships not de-spawning
- fixed world name file folders aren't updating with "Save As" feature
- fixed crashes and asteroid physics
- fixed issue when connecting via connector deletes grouping
- fixed copy+paste option for dedicated server setup
- fixed missing thruster effect

- fixed weird character animations with tools & cube placementEDIT 07/04/2014:

Update 01.037.014
- removed computer component from large ship thrusters
- removed computer component from conveyors (so turret won't attack it)
- fixed crash when server selects all objects on the grid and sets "Me" as owner and "share with my faction"
- fixed cannot save issue after cargo ship permissions changes
- fixed crash in factions after changing faction properties or members
- fixed crash when closing faction screen
- fixed crash when mining asteroid
- fixed crash when switching character’s light
- fixed crash when client canceled join request or joined other faction
- fixed crash when character was shooting when died
- fixed crash caused by selecting empty space in ownership (there are no empty options in ownership drop down menu)
- fixed crash when client was trying to join a faction multiple times
- fixed server steals all ownership

Had to iron out a few issues. But any who.

I've set up a world size. 25km's So if you move past this you will be killed and your ship removed.
So be very careful.

Also with this latest update. The beacons have a limited range. 10,000 meters. If you pass this point you may get lost. So be warned!

I'm gonna work on a safety beacon system. That will save your engi butt if you get out to far.

I was going through the files and noticed there where more than a few ships past the new area of affect. They were over 100km away.
It has helped the server by removing them. Dropped memory usage by 5%.

Also. DO NOT TAKE OVER ANOTHER SHIP THAT IS NOT YOURS!
This counts as stealing. Ask first! same as "storage/doors/reactors/etc" just don't do it.

Also. Factions.
If you make one. Please don't be a dick about it.
Make a nice group, give it some detail.

If I see the dicks/assheads groups I'll be sore with you.

Metroidfighter