Ok 3.0.9 came out but it was just a bug fix, 3.1.0 is at least a year away and if you compare the current phpBB version to the new IPB 3.2 it is like comparing phpBB 2 to phpBB 3, do you agree that phpBB is now falling behind the competition?
Though it has a big development team, it still lags in development. They take lot of time to release every versions, even the minor ones.
It is falling behind slightly, but as soon as they get hooks implemented im sure it would be 100% straightforward for them.
Well I'd prefer updates to be rare than often. Updating a bulletin board software is always kinda risky so I think phpBB3 is doing a great job. And if you are looking for something nice from phpBB team, wait for phpBB4. I've been using phpBB my whole life and I still love it very much. And I'm sure I will keep using it for a long-long time.
I still like it but if you read an ex-staff members posts on their support forum and another forum, you will see that the person who developed phpBB 3.0.0 is no longer with them and the current Developer team leader has the record of the longest ever time between the releases, originally 3.1.0 should have been out at latest early this year and now we will be lucky to see it in 2012.