Works well enough for me, the conversion between Beta 6 and Beta 7 was not that hard to be honest, just reworking some of the HTML to include the new variables in use; which I will add, is a much better method than in the past.
I cannot say much about hacking vBulletin 3, but from the templates side, I find it just as easy and a lot nicer to work with. If users did not use vBulletin 2.0 still, I would only develop for vBulletin 3.0 since you can do so much more with it.
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