If they do release a security patch for a 3.x version, it will only be for 3.8.7 and/or 3.8.8 (just like the last time). I wouldn't be surprised if they stop releasing security patches for the 3.x versions.
Yes, this forum is running 3.6.12, but it is a very customized 3.6 site. There have been MANY security exploits found since this version. However, one of vBulletin's Lead Developers is running this site and you can be certain he has modified the code so those security exploits do not exist on this site.
If you installed 3.6.12, you would not have a secure site at all. 3.7.2 is also not secure. I would suggest you upgrade to 3.8.7 if you want to have a secure site.
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