FYI, Minecraft 1.2 shapshop has been released for client testing.  However, if you don't back up you /bin for 1.1, you will not be able to reach our servers until we update.  Until there is an official release for CraftBukkit, that won't be happening here!  So it may be a while. 

If you must update to play on it, be sure you keep a backup file for 1.1 so that you can come back to our servers when you want, prior to our updating the servers!