
Update: Beta 4 is out and it works better for me. So I am going to give this Beta 4 a little spin :)
A reading a few reviews on Firefox 3 Beta, I decided to give it a little spin and see how it is for myself. So this is how I installed it.
1. Get the Firefox 3 Beta 3 on Mozilla website.
2. Browse to where you downloaded the BZ2 file, and then
tar -xvjf firefox-3.0b3.tar.bz2
3. Move it to /opt. This step is optional but I like to keep things organized.
mv firefox /opt
4. Now, we need to make sure that the plugins work. We'll use plugins from the current installation of Firefox 2.
mv /opt/firefox/plugins /opt/firefox/plugins.backup
ln -s /usr/lib/firefox/plugins /opt/firefox/plugins
5. Before we start launching stuffs and break things, let's backup the .mozilla directory first.
mv ~/.mozilla ~/.mozilla.backup
6. Create a launcher on your desktop by Right Click on Your Desktop > Create Launcher. Make it look like in this screenshot.

Now you can launch Firefox 3 via the launcher on your desktop :D
So far, I HAVE NO IDEA WHATSOEVER why is it any good! Maybe I have done something wrong; but I think its sluggish, and uses up the CPU time for no reason! It never crashed on me, though. So maybe I should start thinking about getting myself a new laptop :P
Some of my Add Ons don't work anymore, so you might want to check whether your favorite plugins will work on Firefox 3 or not :)