currently its beta, almost every week a new part=feature will be added. backup/restore will be next big part. final release is expected in Q1/2012. It also depends on other projects, e.g. http://wiki.qemu.org/Planning/1.0
you cannot expect that we say beta is stable. we call it beta when its beta. you need also consider how we deal with updates, support and urgent bug fixes. this is different for beta releases.
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