Since 1.34 has the bug that makes Transmission completely unusable and forces users to switch to other programs, personally I think it doesn't matter for end user how you are going to fix the bug - backport it or make 1.40 available for all ubuntu releases where the bug occurs (assume Hardy and Intrepid). In any case we shouldn't wait until Jaunty released.
Since 1.34 has the bug that makes Transmission completely unusable and forces users to switch to other programs, personally I think it doesn't matter for end user how you are going to fix the bug - backport it or make 1.40 available for all ubuntu releases where the bug occurs (assume Hardy and Intrepid). In any case we shouldn't wait until Jaunty released.