<<I would love it more if they would update it to cover 3.4.7>>
Of course, you're right... but at least it's SOMETHING.
At this point, I'm too emotionally invested in 3.1 to ever give it up. I've made too many mods and tweaks to the templates and the visible (non-encrypted) PHP files.
There would have to be a MAJOR bug or security issue that was discovered before I'd upgrade.