I am pleased to release Karaf PDE Integration 3.4.2.20090613232
This update fixes a critical bug in how the target runtime plugin location was resolved as well as adding Java 1.5 support (it now works on my Mac which has been my litmus test for portability).
I am still working on my release engineering skills and have found the pde-maven-plugin. Hopefully I'll be able to fix it up so that a release is as simple as mvn install!