Development Hell/Vaporware: Episode 3.2 (and updated 3-2-2) was released pre-bundled with Japanese Ace Online and have been released for all other variants (Vietnamese Phi Doi, Russian Ace, and American Ace) from early summer. As of this entry's writing, October 30th, the European Air Rivals is still stuck with Episode 3.1
The Development Hell part comes from the fact hat EU Air Rivals gets to have a patch that is rebuilt and recustomized as opposed of American AO's wholesale translation from Japanese AO. This fact made the estimated deadline be around 2010. Naturally, people are quite anxious upon whether or not Air Rivals is going to be updated and conspiracy theories about AR closing at the end of 2009 has been a pervasive rumor, especially with CoMa Hyatt confirming that the testservers need to be taken down wholly.
After nearly one year, Episode 3-2nd with 3.2.5 patch is finally confirmed online starting at March 23rd 2010. The patch seems to be tailor made for AR as it involves no slot machine functions, instead replacing them with Cred-buyable Phillon Boxes.