If I were a fairly commercial and well organised new admin, which the OP sounds like, I definitely would not run a new live community on the current XF and then upgrade within 3 months or so.
Their users would not like it - admins have concerns about upgrading software but what is rarely mentioned is how their users dislike software change, or hate it. Yes they like the addition of one or two carefully introduced services, like having a better avatar, or adding sophisticated LIkes varieties to posts. But there will then be some there who don't like the change, there always are.
There are also a surprising number of users who really only cope withe the most basic simple features - Reply and do an avatar - even there they need help! Attachments, starting a thread, editing profile, profile posts, notification setttings are all dark arts to them! Really ... there is a whole world of very ignorant users who willl particularly find new sophisticated additions unwelcome and disturbing.
A new community needs to nurture its first members like royalty. Cherish. A major part of this is to make them feel the place belongs to them, it's THEIRS. Yanking it about with a major upgrade does the opposite, says you are guinea pigs, deal with it.
Basically it's all too easy to forget that what we find glittery and exciting to add - and we want to tell them look what I got for you! - is to a great many a dreaded bore. They just want core mechanics to go on as usual, familiar and comfy.
It takes time for a community to absorb new habits, at least 2- 3 months. So no sooner would the OP have their new users digesting their new world, than it would all go floojey.
Those emails admins send out - guess what you can now do X Y Z - spam for the majority of recipients and for many a groan reaction even if they bother to read it. The new stuff might please 25% or if you're lucky 50% so then there's another 75% or 50% who are now UNhappy.
So, by all means familiarise using this version. That'll mean hitting the ground fast with 1.2, with plans all ready to go - design, functions list. You'll have made vital contacts here too, including the addon developers you'll need to watch to be sure you get their addon upgraded. Most of all you'll know the admin system, and you then be one of us, sharing the adjustment to 1.2 to see how the new stuff works. You can put in your two bits on requests to adjust and tweak the beta! (XF does listen)
THEN go for 1.2 once it's polished, with a sleek machine to offer your market, and an admin or team that knows what it's doing.
