WordPress 3.4 is Coming
WordPress version 3.4 is current in beta testing (details here). This version is due to be released in May.
Currently the new features are limited to some theme customization options and some back-end optimization and international support. This will probably not be a critical update for many existing WordPress users. We’ll get more details on the new features as the release version is finalized.
The beta version is available for download now. As usual, we NEVER recommend running a beta version on a production site, and we usually recommend waiting for a couple weeks after the final version is released before updating. This allows time for someone else to find the final bugs that were missed in beta.