[Centos] The new CentOS3.4 version

Im glancing through my email from the mailing list and
noticed a lot of talk about centos3.4. When will it be
released officially. I have read somewhere that RH is
releasing RHEL 4 pretty soon....Im in no need to upgrade
because my system is rather stable..just trying to get
a idea of what is going on....I know i should be keeping
up with the list...but it gets complicated at times.

I know j. hughes is building a beta test of 3.4...Im just
curious as to if if (cent3.4) is a quarterly update like 
going from 3.1 to 3.3 or is it a major release as will 3.4 be
the same as RHEL4.