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phpBB 3.1 will be the last version ever if 3.2 isn't released within a year of 3.1. The backlash due to retaining the (outdated) Prosilver theme, a huge memory/CPU hit, and a double-whammy problem with extensions, will put a lot of pressure on getting 3.2 out quickly. If it can't be delivered, people will have already moved on to other products. The double-whammy extension problem is the lack of extensions, coupled with a difficult installation process (much more difficult than AutoMOD).
phpBB 3.0.x should be kept an active product until sometime after 3.2 is released. In that way, if people don't like 3.1, they can use 3.0.x with the assurance it won't be discontinued until after 3.1 is fixed. If phpBB 3.0.x is discontinued too soon, people will move to other products, and customers will be permanently lost.
I expect phpBB 3.0.x to be discontinued a few months after 3.1 is released. Hence my above prediction. If there is more than a few months between 3.0.x being discontinued and 3.2 being released, the customer base will be reduced to the point where it won't make sense to spend time on getting 3.2 out the door.