Henrik is correct - all the version releases and service packs will be available to you for the period of one year after you buy a license. The current release of OpenAccess ORM is Q3 SP1. I don't believe you need to wait for the first release in 2012 to start using the product - the service pack of Q3 is a good place to start. For the time being we are not planing another official release within the next couple of months.
Do not hesitate to get back to us if you need any further information about our products or licensing.
the Telerik team
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