Switching from Quicken?

[Allan Beattie]

I have been using Quicken for many years and I think it's generally quite
good.  However, I hope soon to escape from MS and become a Linux person.
This means that I'm very much interested in GnuCash and what it will do, in
comparison with Quicken.

One thing interests me particularly.  I need to account for assets and
liabilities in several currencies.  The introduction on the GnuCash website
includes the following two statements:

(1)  "GnuCash allows you to track bank accounts, stocks, income and
expenses. As quick and intuitive to use as a checkbook register, it is based
on professional accounting principles to ensure balanced books and accurate
reports."

(2)  "GnuCash no longer requires separate currency exchange accounts to
handle multiple currency transfers."

The second statement implies that GnuCash can handle changes in conversion
rates.  But if this is true, and it also "ensures balanced books", then it
must have a way of keeping track of exchange gains and losses.  This is
something that Quicken doesn't do (and I don't blame it; this is fairly
heavy-duty accounting and I wouldn't necessarily expect to find it in a
personal cash manager).  If GnuCash can do it, it's a big plus.  Even if it
can't, I'd like to know what it does when you change a conversion rate.

Can anyone give me any relevant information?  Not only on the currency
question, but on GnuCash generally.