Sometimes people want to install the latest and greatest the right way. For example, right now there are 10 months of work to be gained by installing "tip" as opposed to 1.1.1.
It's easy enough to easy_install from tip, but then it gets named version 1.1.1, which is misleading.
I propose that after tagging a release, the version number be incremented to reflect the fact that the current code is NOT in fact 1.1.1, but is 1.2a or something like that.
While we're at it, it wouldn't hurt to move the version number into code so we can programatically inspect it. storage/init.py seems like a decent place to define a 'version' attribute.
This will make it obvious to someone using an installation (who isn't necessarily the person who did the installing) what version of the code they are actually working with.
Pull request to follow shortly.
(as a related note, http://www.python.org/dev/peps/pep-0386/ seems to be the way of the future for version numbering, which is what I assume is in use here)