Hi,
As far as I can tell, there's no pressing need to move to 7.1 if you're sticking with OpenACS 3.2.4.
I recently updated to 7.1b6 (to prepare for openacs4) and I was able to import my 7.0.3 dump data. It's not quite 'plug-n-play' because 7.0.3 exports the dump data in the wrong order and when you try to import pg7.1 can't find your function definitions because they are defined later in the file.
There are 2 workarounds - manually fix the dump file so that the order is restored. I believe Ken Chakiris created a script that does this and more in this thread.
The other workaround is to create your new 7.1db, load the functions from /web/${servername}/www/doc/sql/postgres.sql first and then load the dumpfile. I used this method and it worked for me. It's described by Don in this thread
