With MVC4 already out in beta, what are the risk factors creating a rather large eCommerce site in MVC3? Will the community drop support for this version of the framework in the coming months/years? When using .NET4+ it gives you the ability to update old code (or at least tries to,) but is it possible to upgrade from MVC3 to future iterations?
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MVC 4 isn’t officially out, but it should be released pretty soon.
As for your concern, Microsoft does a good job with making sure each successive version of MVC is backwards compatible with the last. For instance, I upgraded a project from MVC 2 to MVC 3 with no problems and virtually no code changes.
Investing time in developing an MVC 3 application won’t be wasted, especially since the new features in MVC 4 aren’t dramatic.