It's time to update you on the update. Update.
So, 1.2 is now released, and it's as awesome as we wanted it to be! Bukkit does not yet have a recommended build for 1.2 yet, unfortunately, but they do have a "beta build" which is one that is between their normal upstream builds and a stable recommended build. It'll have to work for now.
Only issue...a lot of our plugins do not yet support 1.2. Supposedly, a great amount of change has happened on the back end of craftbukkit to support 1.2, which breaks a lot of plugin functionality. Nevertheless, I am going to start migrating to the latest build, using the new Beta Build of craftbukkit for now. This will allow me to get a jump on the process. If all of the important plugins support the Beta Build, we'll roll out with that. I'm done waiting. How about you?