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Luke-Jr is planning on supporting 0.4-based releases (finding somebody to fix wxWidgets-related bugs is an issue, though).
The issue I have with calling any pre-1.0-release 'stable' is it implies a level of maturity that I don't think we're at yet. I can see 1-year develompment->unstable->stable release cycles once we're at a solid Bitcoin 1.0 release that I can actually feel comfortable recommending to my non-geek relatives.
My fear is that developers would happily code away and use the development branch, bugs would pile up against the unstable branch (and would get ignored because developers were happily coding away on dev, and nobody really wants to do bug fixing or QA testing), and unstable would never become stable enough to tag 'stable.' But I've never led an open source software project before, so I might very well be wrong (best way to convince me is to point to other small open source projects that we can emulate-- I don't think emulating big projects like Ubuntu will work).
I agree that when a fix has been tested and is available an alert to the affected versions is a good idea.
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Unfortunately, TruCoin ran into a funding crunch because an investor got cold feet and had to stop paying for anything besides directly-related-to-TruCoin work.