Version 3.10.3 Stable has hit the streets. I've done a couple upgrades at this point and all is working great.
3.10.30 combined with Polycom 3.1.1 firmware and 4.1.2 bootrom brings Music On Hold to the Polycom phones finally! Woohoo!
Oh, and they fixed a few other bugs too...
4.0 development seems to be pressing ahead quite well. The developers have just upped the development version to 3.11.9. I have been installing 3.11.8 regularly in a virtual and things seem to be shaping up quite nicely.