I must say... I know it's probably a huge request, but....
I really feel that before you release MC 11.1, it should include a proper Library and Settings migration scheme of some kind. I've already invested 6 - 8 work hours converting my View Schemes and "Customize Current View" settings so that they work again... and I've still got to do my Video heirarchy (thank god that Image is done, that was a nightmare).
For me... If I (1) didn't have a second computer with a duplicate, synchable copy of the Library installed that wasn't my primary HTPC (so that I can make the changes and my Wife can still use MC in the living room while I'm working on it), and (2) wasn't quite such a MC zealot, I don't know that I would go through the trouble. Even though I really enjoy following the beta process with JRiver and helping out with the development of the product, I haven't participated up till now because there was no effective migration scheme.
To me, for a x.1 release of a product, it's simply not acceptable. I'm personally doing it anyway (manually), but I think you could lose some upgrade customers over it.