As a heavy user, an occasional contributor, and the person who recently 
mined PyPi for all the historical SqlAlchemy data to generate the new 
release history matrix...

I don't think you have anything to really worry about for long term use.

The majority of updates over the past 7 years that have been released deal 
with:
• new functionality or improved performance
• very specific bug fixes (ie, edge cases or dialect/driver issues)

Although versions may hit their EOL within 2 years:
- there is rarely any reason to upgrade old projects
- mike is really nice, and often backports certain fixes to earlier 
branches that are technically out-of-support

I have legacy projects in production that are using .5,x .6.x and .7x.
- virtualenv makes pegging sqlalchemy versions a non-issue

In terms of the time needed to upgrade -- I once had to upgrade a .4.x 
project to the .9.x series.  it took 45 minutes to change some code, 
integrate find/replace on backwards incompatbiliites, and address test 
failures.  Those 45 minutes correlated to hours saved by new features.

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