CentOS 3.5 for i386 has now been released and is available on all mirrors and via bitorrent.
A late omission in the isos meant respinning and that caused some delay.
Please download and test, or set your yum.conf to point to 3.5 rather than $releasever (eg http://mirror.centos.org/centos/3.5/..) to test updating and add any problems to bugs.centos.org
3.4 will be removed from the mirrors and 3.5 will become the default in 48 hours if no problems are reported.
Lance