We actually have 3.1 running on this site currently. We're 'taking our own dogfood' as we always do by running it on our site first to make sure there are no major gotchas. Got it up this morning, and are putting just a few final touches together (updated configuration guide, etc). The new version should be uploaded for subscribers on Wednesday.
In the new version, we're moving to a plugin system for profile integration. When you install the new component, you'll want to install/enable the JomSocial profile plugin as well. Then, in the component UserMap area, there will be a button for "Importing Connections" which will transfer connections from JomSocial over to JFBConnect. We've tested it quite a bit internally, and it's pretty straightfoward how it works. The only thing we haven't tested with is on a site with huge amounts of users. Do you know, roughly, how many connections you'll be importing?
These instructions will hopefully be captured pretty well in the revised configuration guide too, don't worry if the above doesn't make too much sense without pretty pictures as a guide
Thanks for the well-wishes, as well as your patience.
Alex