But remember that we're only talking about a beta of 1.2 coming out in June, as Biker mentioned. There may even still be a 1.1.6 down the line. As always, it is not recommended to run a beta in production. Maybe 1.2 will only be considered stable in August or even later -- it depends on how the beta process goes.
I've said this before, but 1.1.x and 1.2.x releases have no bearing on each other. They are separate branches in our code. If a 1.1 release is necessary, the state of 1.2 doesn't change anything. Even after 1.2 is released (stable), 1.1.6 could still be released (for security or bug fixes).